Quikr no longer billion-dollar startup as major investor slashes valuation by 45%

Online classifieds marketplace Quikr in no longer a unicorn (a startup with over $1 billion valuation) as Swedish investor Kinnevik marked down its valuation by about 45% to around $570 million. This comes after the Bengaluru-based startup discovered frauds in its co-living and auto segments. Kinnevik CEO said Quikr has fired a lot of their workforce to become profitable faster.