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Quikr Raises USD 6 M Series C Funding Led by Norwest Venture Partners (NVP)

Mumbai, India, March 31, 2010 NVP Leads Round with Participation from Matrix Partners India, Omidyar Network and eBay Inc. Quikr, India’s leading horizontal classifieds player, announced today the completion of a USD 6 million third round of funding in Quikr Mauritius (a holding company of Quikr India) led by new investor, Norwest Venture Partners (NVP), and returning investors, Omidyar Network, Matrix Partners India and eBay Inc. With this round of financing, Quikr has raised in excess of INR 50 crores in total investment since inception. Quikr (www.quikr.com) offers a web-based classifieds platform that addresses the needs of local communities in 40 cities across India. More than 8 million consumers visit Quikr every month to buy, sell, rent or find things ranging from electronics to cars to real estate to jobs, and everything in between. Quikr is the largest player in its market and the company has experienced explosive growth in the last year due in part to the increased purchasing power of the rising middle class in India. “We are impressed by Quikr’s tremendous growth,” said Niren Shah, Managing Director, NVP India. “This investment is a testament to the fact that Indian consumers are passionate about the experience offered by the Quikr platform. The company is pursuing an extremely large opportunity with a unique business model, and we look forward to partnering with Quikr to help further grow the company in this rapidly growing market.” Pranay Chulet, CEO of Quikr, said, “We are excited to add a firm like Norwest Venture Partners to our group of marquee investors and look forward to taking Quikr to new heights from hereon. The NVP team brings great pedigree in the global internet business – that experience, combined with Niren’s credentials, further lends force to the Quikr movement and strengthens our leadership position in the market.” India, with its growing affluence, is witnessing fundamental shifts in the purchase patterns and lifestyles of its consumers. As their purchase cycles become shorter and consumers increasingly turn to digital media to address their day-to-day needs, a simple platform like Quikr has the potential to revolutionize the e-commerce landscape in this country. Quikr’s organic growth due to strong consumer adoption has attracted an impressive roster of investors from early on. Avnish Bajaj, one of India’s internet pioneers (co-founder of Baazee.com) and co–founder & Managing Director of Matrix India serves on the Board of Directors of Quikr Mauritius. Matt Halprin, Partner, Omidyar Network, and former head of Trust & Safety at eBay, is also an Observer on the Board. About Quikr: Quikr is the leading online classifieds platform in India that provides people the ability to trade goods and services in a variety of categories such as electronics, real estate, cars, bikes, services, jobs, education and entertainment. Quikr is currently available in 40 cities across India to address needs of the local community in these cities by connecting people in a simple and convenient way. The company is used by consumers as well as small & mid-sized businesses, and prides itself in its ability to get you quick responses to your needs. To try out Quikr, please visit www.quikr.com About Norwest Venture Partners (NVP): Norwest Venture Partners (NVP) is a global venture and growth equity investment firm that manages more than $3.7 billion in capital. It has offices in Palo Alto, California, Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 49 years and has funded over 450 companies since inception. For more information, please visit www.nvp.com About Matrix Partners India: Matrix Partners India is an investment firm with INR 1,500 crores under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to INR 125 crores in a company depending on its stage of development and has invested in several companies including FIITJEE, Itzcash Card, Siesta Hospitality and Tree House. The Mauritius based fund’s investors include leading university endowments and family foundations. Matrix Partners has a global network of funds investing in the US, China and India with $2 billion under management. Further information is available at www.matrixpartners.in About Omidyar Network: Omidyar Network is a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization invests in and helps scale innovative organizations to catalyze economic, social, and political change. To date, Omidyar Network has committed more than $290 million to for-profit companies and nonprofit organizations that foster economic advancement and encourage individual participation across multiple investment areas, including microfinance, property rights, government transparency, and social media. To learn more about Omidyar Network, please visit www.omidyar.com

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