Online classifieds platform Quikr India Pvt. Ltd has acquired Stepni, a Bengaluru-based start-up that connects vehicle owners with service providers, for an undisclosed amount, the company said in a statement on Wednesday.
Quikr has been driving a verticalization exercise, under which the company is focusing on five key business segments—automobiles, real estate, jobs, services and customer-to-customer sales—that it has identified as new sources of revenue to fend off competition from other venture capital-backed firms that have emerged in each of these categories.
The acquisition of Stepni (FO Auto Technologies Pvt. Ltd) is expected to help Quikr strengthen car-related services under the QuikrCars vertical, as well as boost its services business, QuikrServices.
Stepni, founded by Vinay Singh and Nikhil Nair in October 2015, claims to have a network of more than 125 service centres across Bengaluru.
The Stepni team, including the founders, will join QuikrCars, the statement said. Quikr aims to expand the vehicle maintenance service to other cities in the next three months.
Quikr has been driving a verticalization exercise, under which the company is focusing on five key business segments—automobiles, real estate, jobs, services and customer-to-customer sales—that it has identified as new sources of revenue to fend off competition from other venture capital-backed firms that have emerged in each of these categories.
The acquisition of Stepni (FO Auto Technologies Pvt. Ltd) is expected to help Quikr strengthen car-related services under the QuikrCars vertical, as well as boost its services business, QuikrServices.
Stepni, founded by Vinay Singh and Nikhil Nair in October 2015, claims to have a network of more than 125 service centres across Bengaluru.
The Stepni team, including the founders, will join QuikrCars, the statement said. Quikr aims to expand the vehicle maintenance service to other cities in the next three months.
No comments:
Post a Comment