zefo

New Delhi, Apr 25 () Quikr Thursday said it has acquired zefo for an undisclosed amount, a move that will help the online classifieds major further scale its pre-owned goods business.

Sequoia Capital and Helion Venture Partners-backed zefo will continue to operate independently after the acquisition, they said.

Quikr, the e-classifieds and transactions marketplace, has acquired online pre-owned goods seller startup zefo in a Rs 200-cr, stock-and-cash deal. The deal comes as the Bengaluru-based company, valued at $1.6 billion, is looking at an aggressive offline expansion with plans to open 200-300 franchisee stores across the country over six-nine months.

Exchange program is the third big move in the company’s strategy after it decided to open offline stores and sell on other marketplaces including Flipkart and Amazon.

New Delhi, Oct 5 () US-based cab hailing app Uber today said it is expanding uberPOOL service to three more Indian cities -- Chandigarh, Jaipur and Ahmedabad. With this, uberPOOL is now available in 12 Indian cities.

The move comes as Urban Ladder is looking to boost its revenue growth, but the company does not plan to dilute its premium appeal.

With eCOD, mercants can collect payments at the time of delivery, via non-cash payment modes

Online product rental marketplace What’s On Rent has raised angel funding led by CommonFloor cofounder Lalit Mangal and Excubator cofounder Neeraj Gupta.

Over the coming months, the company is planning to add a new range of products across categories which will be available on the site--2GUD. With this business, Flipkart is aiming to increase its user base of value conscious consumers who would look to make such purchases.

Swedish investment firm Kinnevik has marked down the valuation of Quikr by 45% to about $570 million from more than $1 billion as of September 2019, the firm said in its annual earnings statement earlier this month.

The venture has been funded by Bansal and Krishnamurthy, who headed Flipkart’s logistics arm Ekart and later spearheaded taxi-hailing firm Ola’s marketplace business.

Flipkart’s entry into the online second-hand products business will pit it directly against QuikrBazaar and OLX in a largely unorganised market.