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
- 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
- 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 Global.
- 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
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
- 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
- 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.
Commonfloor founders quit
16 Jan 2017
- The three founders of Commonfloor.com, have quit the company, a year after it was acquired by Quikr for $200 million. They said they were "transitioning out to pursue other interests."
- It is not yet known if the three would start a new venture together or go their separate ways.
- In an official statement, Quikr wished them "all the best in their future journey."
CommonFloor Introduces 'Live-in Tours' for the Secondary and Rental Properties, a First in the Industry | The Financial Express
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