CommonFloor co-founders quit a year after Quikr acquisition

Barely a year after real estate portal CommonFloor was acquired by online classifieds company Quikr, the three co-founders- Sumit Jain, Vikas Malpani and Lalit Mangal have called it quits.

Founded a decade back, CommonFloor has witnessed a series of employee layoffs over the past year.

"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.

Even after the acquisition, CommonFloor continues operations as a separate brand under QuikrHomes. At the time of the acquisition, there were some 1,000 employees working for CommonFloor, however, at present, only a handful remains in the company.

With regard to the three cofounders too, there is no official word till now if they are headed to separate companies or are looking for a new business opportunity together.

“We are looking at transitioning out to pursue other interests,“ the three co-founders of CommonFloor said in a statement in response to ET's queries.