Online classifieds player Quikr in a recent interview said that it has acquired Salosa, an on demand in-home beauty services provider for an undisclosed amount in a move that will help the Tiger Global Management-backed company penetrate deeper into the home services segment.
It said that this strategic acquisition is a part of Quikr plans to invest Rs 250 crore in its home services vertical, QuikrServices. This investment will enable the company go deeper and faster in key categories under QuikrServices, It said in a statement.
Salosa which has been a partner to QuikrServices will further strengthen its beauty services offerings with stylists that have undergone a rigorous process of quality and background checks along with required training, it added.
Founded by Ex-P&G professionals, Piyush Dhanuka and Anurag Nair, Salosa was launched in September 2015 and currently operates in Gurgaon and parts of Delhi with a team of in-house beauticians.
Head of QuikrServices PD Sundar said:
Beauty services market is close to USD 5 billion in India and is growing which is evident from the increasing number of requests we see from Tier-I and Tier-II cities on our platform. QuikrServices has 250,000 service providers offering over 80 types of services for consumers and is being used by 1,00,000 customers every day, Quikr said.
Quikr is focusing on five key business segments—automobiles, real estate, jobs, services and customer-to-customer sales. It has identified new sources of revenue and fend off competition from other venture capital-backed businesses that have emerged in each of these categories.
The company has so far raised $346 million from investors such as Tiger Global Management, Warburg Pincus and Norwest Venture Partners, among others. It's major competitor still remains to be OLX, which is backed by Naspers Ltd, a South African mass media company.
- Norwest Venture Partners
- Private equity
- Pranay Chulet
- Warburg Pincus
- Tiger Global Management
- Naspers Ltd
- Internet Services - NEC
- Residential Real Estate Services
- Online classifieds player