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What is CommonFloor?

Introduction
What is CommonFloor?
  • CommonFloor is the leading property platform for apartments and gated communities, founded by three software engineers- Sumit Jain, Vikas Malpani and Lalit Mangal.
  • Commonfloor.com offers search, listing and management solutions and draws a monthly traffic of 70 lakh that includes home seekers, sellers and realty professionals.
  • Presently, it provides services in over 200 cities and has the largest verified property listings (over 5 lakh).

Starting out as a community platform

2007
Starting out as a community platform
  • CommonFloor started out in 2007 as a platform for residents in apartment complexes to discuss and address community issues.
  • From 20 communities in the first year, its community management software began to serve 1000 communities by the second year.
  • Commonfloor decided to secure funding only in 2009, successfully making it past the recession years exclusively on the founders' personal savings until then.

Funding, a portal and an app

2009-12
Funding, a portal and an app
  • Accel gave CommonFloor its first set of funding.
  • CommonFloor launched its property listing website, that drew a record traffic of 50,000 after a year's run.
  • In 2012, CommonFloor received a second round of funding from Accel and hedge fund giant Tiger.
  • A property map feature was added to the website.
  • CommonFloor launched its app featuring an augmented reality tool to scan neighbourhoods for properties.

Commonfloor.com ranked #1

Fact
Data

Comscore ranked CommonFloor.com as the No.1 website drawing the maximum unique visitors for a period of 3 consecutive months.

Tiger Global, Google capital fund CommonFloor

2014-15
Tiger Global, Google capital fund CommonFloor
  • CommonFloor received a funding of $30 million from Tiger Global bringing its total funding to $50 million
  • In January 2015, Google Capital invested in the reality portal, only the third investment by Google in Asia.
  • in 2015, CommonFloor acquired social networking apps Bakfy and Flatchat.
  • It launched 'Live-in tours' to provide 360-degree views of the property to buyers.

Quikr acquires CommonFloor

8 Jan 2016
Quikr acquires CommonFloor
  • Online classified firm Quikr India bought real estate portal CommonFloor in a $200 million deal.
  • The deal was allegedly driven by US-based Tiger Global, an investor in both firms, following a slowdown in real estate funding.
  • The acquisition would help newly launched Quikr Homes gain CommonFloor's reality expertise.
  • CommonFloor would exist as a separate brand, while getting access to Quikr's 30 million consumer database..