A year after Quikr acquisition, CommonFloor founders quit

A year after real estate portal CommonFloor was acquired by online classifieds firm Quikr for $200 million, the three co-founders- Sumit Jain, Vikas Malpani and Lalit Mangal have quit the company.

CommonFloor was founded in 2007 and over the past year, has seen a series of employee layoffs. Currently, it is unclear if the three cofounders are headed to separate companies or are looking at a new business opportunity together.

"CommonFloor has been a great addition to our real estate portfolio. After a planned period of transition, the CommonFloor founding team is moving on to their next endeavour and we wish them all the best in their future journey. We will continue to invest in and build QuikrHomes, CommonFloor and Grabhouse as leading franchises in the Indian online real estate industry,” Quikr told ET.

After the acquisition, CommonFloor continued to work as an individual brand under QuikrHomes and has nearly 1,000 employees working for it at the time of the acquisition. At present, only a handful remains in the company.