Bangalore-based Commonfloor which was acquired by Quikr, has laid off more than 100 employees. The employees were informed via email that there were no positions open in Quikr and they should pursue opportunities outside and that it would be the official notification for the commencement of notice period. CommonFloor is also vacating its current office space and will be soon be moving to Quikr’s premises. Quikr had acquired Commonfloor for $200mn and had asserted that there will be no layoffs.
Commonfloor co-founder Lalit Mangal, Excubator co-founder Neeraj Gupta, Angel investor Sanjay Gupta and Bangalore based software firm Nixel Technology have invested in the first funding round of the startup. The startup will deploy these funds in building robust tech-enabled processes, hiring talent and strengthening category portfolio. The startup follows vendor based model and manages each stage of the order to ensure maximum customer satisfaction. Currently, the startup fulfills 18-20 orders in a day and has over 500 paying customers, claims the company.
Evibe, an online marketplace for party services has raised an angel funding round led by Hyderabad Angels. Lalit Mangal (Co-founder, Commonfloor), Vikas Malpani (Co-founder, Commonfloor), Gaurav Bhalotia (VP Engineering, Flipkart), LV Prasad & Co. from BITS Alumni also participated in the funding round. With this funding, in the next 6-9 months, the startup plans to focus in Bangalore and expand across all celebrations and build a proprietary backend technology. The startup claims to have been growing at an average 20% every month with 1,60,000+ guests.
Online classifieds company Quikr announced that it has merged property portal CommonFloor with its real estate vertical QuikrHomes. MediaNama had confirmed the merger earlier in November and reports then had said that the size of the deal was $200 million. Following the merger, the companies will continue to operate as separate entities and the deal is expected to be completed over the next two or three months. The deal will give CommonFloor access to Quikr’s 30 million users and expanded scope across Quikr’s four other verticals.
CommonFloor has launched Locality Virtual Tour enabling property buyers to have a virtual walkthrough of the neighborhood. Property buyers can get 360-degree view, eliminating the need to visit the location in person. Currently, 100 localities in Bangalore, Delhi and Mumbai have been mapped. It plans to list 500 localities across 10 cities in next 6 months.
Commonfloor is in talks to acquire IndiaProperty and the deal is currently in due diligence stage. IndiaProperty has raised $12M in series B in December 2013. Commonfloor recently raised funding from Google Capital, and had also raised $30M in 2014. Nextbigwhat also reports that Indiaproperty is also looking to raise $50M in Series C.