Indian online classifieds site Quikr has bought refurbished goods marketplace Zefo, headquartered in Bangalore.
The acquisition allows an exit strategy for Zefo’s current investors, including Sequoia Capital, and gives Quikr a pathway to expand and strengthen its pre-owned product range.
Zefo, has a portfolio of more than 10,000 products in four cities, including Bengaluru, Mysore, Delhi NCR and Mumbai.
“With Quikr and Zefo as a combined entity, we will be able to offer a broader selection of products at even more competitive prices along with as strong a focus on quality,” said Quikr founder and CEO Pranay Chulet.
“With this transaction, the capabilities we have built and the offerings we have honed can now be offered to Quikr’s large customer base,” said Zefo CEO Rohit Ramasubramanian.