Quikr To Buy CommonFloor For $160 Million
This seems the most anticipated acquisition in early 2016. Quikr, the leading classified advertising platform is in talks with CommonFloor to buy the realty portal. If negations go well, Quikr may acquire CommonFloor by paying $160 million.
After completion of the acquisition, Tiger Global can invest fresh capital into Quikr through primary issuance of shares. Notably, Tiger Global is an existing investor in both Quikr and CommonFloor. Google capital and Accel are also the existing investors in CommonFloor who will get 10% stake in Quikr post acquisition.
Quikr To Buy CommonFloor
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