By November 30, 2012 Read More →

Quikr co-founder Jiby Thomas quits

Jiby Thomas, co-founder and vice president marketing at online classifieds site Quikr, has quit the Mumbai-based company bringing to an end a nearly five-year stint. The development was first reported by Medianama. Thomas confirmed the development when we reached out to him but said that he has no firm plans for the future yet. Quikr recently raised a $32 million growth round of funding from Warburg Pincus, Matrix Partners India, Norwest Venture Partners and eBay – the largest investment deal yet in the online classifieds segment in India.

“Yes I am venturing out. No firm plans yet,” Thomas said in a brief text message to StartupCentral. Following an extended stint with Contract Advertising at the start of his career, Thomas joined online auctions site in January 2000. When was acquired by eBay Inc in 2004 and rebranded to eBay India, he became part of the senior leadership team there. In late 2005 he moved within eBay India to its classifieds arm Kijiji. In 2008, eBay decided to spin out Kijiji into an independent company which was in turn rebranded Quikr and Thomas was part of the founding leadership team that executed the transition.

Quikr has been one of the most consistently venture capital funded startups to come out of India in recent times. Shortly after being spun out of Ebay India, it raised an undisclosed amount as series A funding from Matrix and eBay. This was followed by a $4.47 million series B round in 2009 from Omidyar Network and Matrix. In 2010, it raised a $6 million series C round from Norwest, Omidyar, Matrix and eBay. Last May, it raised its series D round at $8 million from Nokia Growth Partners, Norwest and eBay. The Warbug Pincus round this May could be a probable step towards an IPO in the medium-term future.

The company offers classifieds both online and on mobile and serves individual and enterprise users. It is currently headed by co-founder and CEO Pranay Chulet.

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