Industry News

Quikr Plans to Make Big Investment in Home Services

India home services market is about to see some new changes as Quikr plans to invest 250 Crores in this segment. The company had launched its home services vertical in October last year by the name QuikrServices. This is the big move from company in just 3 months and this will intensify the competition in this segment while giving more options to customers.

The company plans to invest more money on Product development and is keen on making some strategic investments in start-ups.

With the rise in home services market, this investment will also provide some competitive advantage to Quikr as this move will enhance the synergy between different verticals, the company is already working in.

According to TechSci Research, home services market is expected to keep growing in double digits and will continue to grow in foreseeable future. The consistent rise of start-ups backed by venture capital firms will increase the competition and will create more awareness in this industry. The customers will be benefitted significantly as they have more choices now with excellent services.

At present the other start-ups are fulfilling thousands of orders every day and industry looks very open and widely fragmented. Furthermore, big investments like this will consolidate the industry and will leave few players in the segment. It would be interesting to see the growth of industry after 5 years. 

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