Quikr to Acquire an E-commerce Company into Buying and Selling of Refurbished Products Zefo
Highlights
- Quikr to acquire Zefo in an all-stock deal worth INR 200 crore.
- Financial statistics of Zefo from the year 2015–2018.
- Quikr is also pushing to create its own payments and logistics services for the used or second-hand products.
Quikr, a renowned Indian classified advertising platform said to be acquiring Zefo soon. Zefo is an Indian e-commerce platform for buying and selling refurbished or second-hand products.
It has been understood that Quikr is in advanced talks to acquire Sequoia-backed refurbished products marketplace Zefo for INR 200 crore in an all-stock deal.
After the acquisition of Zefo, supported by Sequoia Capital, Helion Venture Partners and others, will go on to operate independently. Zefo was incorporated on 2nd July 2015 by Arjit Gupta, Himesh Joshi, Karan Gupta, and Rohit Ramasubramanian.
Zefo has raised an estimated INR 2.8 crore from investors thus far. This online portal specializes in quality check, repairs, and refurbishment of products like furniture, electronic appliances, and mobile phones.
We have rounded up financial statistics of Zefo, let’s see how well the company has fared from the year 2015 to 2018.
The above financial statistics of Zefo from the year 2015–2018 shows us different financial parameters which involve Net Worth, Paid up Capital, Total Income, Total Expense and Profit before Tax.
A person who is known to be aware of the deal said: “This aligns with Quikr’s philosophy of moving to a transaction-based business model, and strengthens its position in the second-hand and refurbished goods space.” Zefo is going to help Quikr by enabling access to repair and refurbishing of products it has lacked. Quikr is also pushing to create its own payments and logistics services for the used or second-hand products.
“Zefo will benefit from Quikr’s customer base, while Quikr will be able to leverage the operational capabilities that Zefo has built around refurbishment and logistics” said by another person who is directly aware of this deal striking soon.
A Quikr spokesperson told that the company does not want to make any statement on speculation that Quikr to acquire Zefo. Last year in August e-commerce big player Flipkart introduced its own market for refurbished products called 2GUD, supported by its acquisition of mobile repair services company called F1 Info Solutions.
2GUD has its focus on the refurbished smartphones and laptops market so far. The company has said that it would expand into refurbished furniture and appliances markets as well, competing with companies like Zefo.
