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.