Three CommonFloor founders quit Quikr
16 Jan 2017
About one year after QuikrHomes, the real estate vertical of horizontal site Quikr India, had acquired CommonFloor.com, an online real estate site in India, the three founders of CommonFloor resigned from the new positions Quikr India had given them.
Sumit Jain, Vikas Malpani and Lalit Mangal founded CommonFloor in 2007.
“CommonFloor has been a great addition to our real estate portfolio. After a planned period of transition, the CommonFloor founding team is moving on to their next endeavor,” said a Quikr spokesperson in an email to us.
“We wish (the founders) all the best on their future journey. We will continue to invest in and build QuikrHomes, CommonFloor and Grabhouse as leading franchises in the Indian online real estate industry,” the spokesperson added.
In recent months, it was reported in the media that Quikr had retrenched a substantial number of CommonFloor employees, and had shut its Bangalore office. Quikr refused to comment on the reports of lay-offs and also did not want to say how many CommonFloor employees were still employed by Quikr. Sumit Jain could not be reached for comment.
QuikrHomes competes with other real estate classifieds sites in India, such as 99acres.com (promoted by InfoEdge India, a publicly traded firm), PropTiger.com (promoted by NewsCorp., which also operates Housing.com), and MagicBricks (promoted by TimesGroup).
Quikr is backed by Tiger Global Management, Warburg Pincus, Norwest Venture Partners and AB Kinnevik.