Online classifieds firm, Quikr, which is valued at $1 billion, will hire 550 more employees in the next 12 months, which will take its total strength to 1,800.

The entire Quikr team is also moving into a three-storeyed building in Bengaluru, which has a built-up space of 70,000 sq ft and is located on a 4-acre plot. The company shifted its base to Bengaluru from Mumbai recently.

“We have plenty of space and high ceilings that will accommodate 1,200 employees over time. In 12 months, we will touch a headcount of 1,800 employees, of which 1,000 will work out of Bengaluru and rest across six cities,” said Pranay Chulet, founder and Chief Executive Officer.

Creating an incubator

Plans are on to create an incubator to attract young technologists across from around the country who want to experiment with new ideas within the Quikr campus.

“Talent defines a company. We are a tech company and want the best engineering talent to innovate here along with our engineers,” said Chulet, who is also looking to rope in some expertise in an advisory capacity.

“I have been talking to a few people who have handled extremely fast paced growth in their business and have succeeded in maintaining the basic fabric of the business as their company has grown.

“The biggest risk to my business is that we get so busy with our growth that we forget what brought us here in the first place – caring for customers and employees, staying informal, zero hierarchy, working more with minimum meetings,” said Chulet.

Quikr has mopped up $350 million in funding since its inception in January 2008. It raised $150 million in April, which will be used to hire, acquire companies with synergies, marketing and operations.

Refusing to comment on speculation that Quikr is in talks to acquire Housing.com, Chulet said he is evaluating a few companies to acquire.

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