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Matrix Partners India has acquired a stake in Kijiji India and will be jointly owning it with shopping site eBay. The financial details of the transaction, however, were not disclosed. Kijiji India (www.kijiji.in) is an online classifieds-style website that allows local communities to meet, help one another and interact over shared interests. |
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It is a platform that meets the personal needs of the local community in a city. Kijiji can help users to buy or sell a used car, look for an apartment on rent, buy or sell a house, look for a job or hire people, and much more. In India, Kijiji launched in November 2005 and is now present in 12 cities including Mumbai, Delhi,Bangalore and Chennai. eBay India country manager Rajan Mehra says, “To win local classifieds in India, it is necessary to build out a local platform, with a strong partner that can provide deep insight into and access to the local market. “We are delighted to work with Matrix Partners India to continue to grow Kijiji India. With their proven track record of investing in early-stage businesses and building companies that people across India will trust and rely on, we believe we have the best possible partner in Matrix Partners India.” |
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Matrix Partners India co–founder MD Avnish Bajaj says, “Our investment in Kijiji India demonstrates our continued focus on early-stage investing in addition to our growth stage focus. “We have been following the early success of Kijiji with small businesses and local communities with great interest, and look forward to working with the start-up team to scale its offerings and successfully grow the business.” |
Source: Indian Television