Quikr acquires on demand services player Zimmber for $10 millio

Online classifieds player Quikr has acquired on-demand services player Zimmber, to further scale its hyperlocal household services business.

Quikr did not disclose the financial terms of the deal but the acquisition has been made at over $10 million in a largely stock-based deal with a 10% cash component, said a person aware of the development.

Zimmber is Quikr’s fourth acquisition for its services category which has seen the company buy Salosa, Zapluk and StayGlad in the beauty services space last year. Zimmber is Quikr’s first horizontal acquisition in this category.

This acquisition will help Quikr accelerate its growth in household services and continue to progress towards its goal of organizing this fragmented category.

“Zimmber has a good presence in Mumbai, Delhi and Pune in terms of having built a supply network for handyman services. This is relevant for us to offer a deep experience to customers since it has a good amount of repeat usage and has a good entry point for consumers to come on board to Quikr through QuikrServices,” PD Sundar, Head of QuikrServices told ET. “This category perfectly complements our existing marketplace solution for one-off service needs such as interior design, packers and movers etc,” said Sundar.