Quickr is going to buy housing.com. During its last round of funding in November, Housing was valued at Rs 1,500 crore ($250 million).
For Quikr, which is one of the eight so-called Indian 'unicorns' with billion-dollar valuations, the addition of Housing will open up a new revenue stream and add a well-known brand to its portfolio.
Earlier this year, Quikr founder Pranay Chulet said the company will hire 500 people to beef up its online real estate business, Quikr-Homes.com For the investors in Housing, the deal will give them a chance to be a part of a larger business and cut their losses in a company whose fortunes have dwindled rapidly because of a spate of controversies triggered mostly by Yadav. Yadav, who led a dozen college-mates from IIT-Bombay to start Housing in 2012, has had public spats with venture fund Sequoia Capital and disparaged the intellectual worth of investors in his company. He resigned at the end of April, but was asked to stay on by the board which appointed a committee to oversee operations
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