Online classifieds Web site Quikr is expanding its base to new cities in India. Currently present in over 40 cities, Quikr plans to launch in 30 more shortly.
“We are at a very exciting stage at this point. In the next two to three months, we plan to launch in 30 cities,” said Mr Jiby Thomas, Co-founder and VP – Marketing, Quikr. Nearrly 2.3 crore people visit the site every month.
The online classifieds space is approximately worth Rs 900 crore and is fairly competitive. Non-travel e-commerce, which is 30 per cent of the total industry, is estimated to grow 10 times to $6 billion by 2015, according to a research report by Edelweiss Securities.
“The format is the key and enhances the speed of the entire transaction. Our prime focus in on that,” says Mr Thomas. The simplicity of their format helps the buyers and sellers connect easily.
Through the platform, users can find an apartment to live in, sell their old car or electronic products, promote their small business, find a life partner, join a salsa class, get an audience for a local event or trade any item that they might want or have to offer.
The company is also exploring the potential of introducing other categories like financial services. “The need for financial products makes this category relevant. It could be an interesting category to add,” he said.
Quikr earns its revenues from premium services as well as advertisements on its Web site.
Premium advertisements increase the ad visibility and help reach out to more consumers. The price for these ads varies according to the category of the product or service.