Quikr, an online classifieds operator in India, has abandoned its original growth model in the past two years and expanded its business landscape with acquisitions and mergers and acquisitions, nowadays becoming the leading provider of on-demand services in India. Quikr was originally eBay's subsidiary Kijiji International established in India Kijiji India, after investing in Matrix Partners India in 2008, founders Pranay Chulet and Jiby Thomas reorganizing Kijiji India into independent company Quikr. Since its founding in 2008, Quikr has seen numerous rounds of investments with investors including Imidyar Networks, Norwest Venture Parters, Nokia Growth Partners, Warburg Pincus, Kinnevik AB, Tiger Global Management and Brand Capital raised a total of $ 346 million with a valuation of $ 1.04 billion. Compared to other unicorns in India, Quikr's business model is relatively simple. The major categories include QuikrEasy, QuikrCars and QuikrBikes, QuikrHomes, QuikrBazaar, QuikrLearning, QuikrLearning and QuikrLearning, the main source of revenue is Quikr, the current source of Quikr value, currently Quikr has 25 million unique visitors every month, With 75 million to 80 million monthly visitors, Quikr serves over 1,000 cities in India and over 90% of its users come from India, with only a handful of those coming from outside India. Mini-contenders Quikr whale eating In recent years, With features and smartphones falling and the cost of mobile data plummeting, more and more Indian citizens can afford cell phones and make the Indian population grow rapidly. This kind of network is accelerating penetration of Indian civilians and allowing Quikr to provide online classified information Have sprung up However, most of the classified information providers have limited scope of services and are not as popular with investors as Quikr. Therefore, most of the new entrants have been questioned about the profit-making modes and possibilities since its establishment. Apart from advertising, many Indian consumers are reluctant to pay for media ads to browse classified ads and receive services. In the meantime, Quikr also felt the need to turn around its business through mergers and acquisitions in 2015 after growing organic before 2014 , So the acquisition has been accelerated in the past two years, so since December 2015, Quikr has been acquiring various types of businesses at a rate of approximately one to two months per acquisition, Quikr acquired Realtycompass, Indian Realty Exchange, CommonFloor and Cryptopy Technologies in the realm of QuickHomes as well as the growing number of middle-class Indians in India. More and more people love to apply for beauticians through on-demand services To house beauty, Quikr also acquired online beauty service booking applicants such as Salosa, Zapluk, StayGlad and the At Home Diva brand under the super-service QuikrEasy, and in May 2015 launched a mix of employers and job seekers QuikrJobs, Quikr purchased Abhiman and locked the blue-collar vacancies as the main market in order to quickly create job vacancies and job-seekers to bridge the gap between urban jobs and rural workforce. Quikr also accelerated its efforts to speed up the white-collar market Grew and acquired Hiree to create a large job search platform to provide millions of job seekers with supportive services to increase consumer trust As an eCommerce platform, Quikr offers in addition to an on-demand, on-demand information exchange provider The sale of goods market, especially mobile phones and other second-hand electronic products, so Quikr hope by For example, Quikr launched QuikrScanner, an Android mobile phone detection software, in February 2016 to allow consumers to remotely assess the availability of used mobile phones on QuikrBazaar, said Anurag Saran, Director of Quikr Products. As a market leader, Quikr has a responsibility to provide second-hand mobile phone consumer verification and assurance mechanisms, and Quikr also offers used mobile phone warranty services to ensure consumer trust. In addition, Quikr subsequently launched Quikr Doorstep in March 2016 to allow buyers and sellers Quikr, Doorstep can not only improve the user's trust in second-hand goods, Quikr can also be charged to the buyer shipping fees, the seller to charge a fee. So as to diversify Mainly for the advertising revenue sources.Market consolidation has not ended after another Quikr on a number of new acquisitions have brought positive benefits to the operation, Chulet founder in June had said that after a series of acquisitions, Quikr, which includes job search, real estate, automotive, services and C2C businesses, has accounted for 55% of its revenues, and they expect Quikr to look to 2 However, Chulet said that the growth of global classified advertisers has not been achieved through horizontal diversification or through vertical and solid single-sector approaches, but some strong players have already floated on the international stage However, in India, there is no obvious leader other than white-collar vacancies led by Naukri Quikr has a wide range of services in India, but Quikr is still facing strong competition in some areas, except for the white-collar vacancies Naukri vs. Quikr Titles Cartrade and CarDekho, which are well-funded in the automotive advertising market, also want market leadership while Quikr is facing competition from OLX, a Nascon-backed South African media, in the C2C sector. GST tax reform threatens Although Indian classified ads And media conglomerates, but the GST reforms, which came into force in July 2017, are threatening the prospects of online classified advertisers. Economic Times reports that UrbanClap, Quikr and Housejoy provide utilities such as plumbers, carpenters, cleaners, movers, India to the United States and other services to serve the media platform after the entry into force of the GST to pay for its service government 18% service tax, by contrast, by As a general rule, services introduced or located nearby are likely to enjoy a price advantage because they may be able to avoid paying the 18% service tax on cash because they may be paid in cash. According to GST, when the service income for the year is less than 2 million rupees Small property owners would not have to pay an 18% service tax. However, when these small property owners completed their transactions with consumers through the online classified advertising platform, according to a notice released by the Indian government in August, because the gold stream was passed through the online platform, Moreover, small proprietors must pay 18% of the GST. In addition, when these small proprietors enter the formal economy from the informal economy through the operation of an online classified advertising platform, they must also declare their income. Similarly, the government of India, And the implementation of different tax line differential treatment, so that service providers can be online at a lower price to provide the same service, which HomeJjoy and UrbanClap and other industries that are not conducive to India's formal economy and the development of the digital economy. PwC India partnership Pratik Jain said that if anyone trades through an e-commerce platform, no matter how much he needs GST tax payment, so that fear of individuals or small businesses reluctant to online transactions, this is clearly not in line with the original intention of the Indian government to promote the reform of the GST.
