CommonFloor

CommonFloor is an Indian real estate portal established in 2007. The company was founded by Sumit Jain, Lalit Mangal, and Vikas Malpani, who were inspired to create the platform after facing personal difficulties with a sewage problem in their shared apartment in Bangalore and a lack of coordination among residents. Sumit Jain, an IIT Roorkee computer science graduate, had previous exposure to the real estate sector through his father's construction materials business. His co-founders, Lalit Mangal, also an IIT Roorkee graduate, and Vikas Malpani, a computer science graduate from VTU, shared his technological background, having worked at companies like Oracle and SAP Labs.

Initially conceived as an apartment management solution to connect residents within gated communities, CommonFloor evolved into a comprehensive real estate platform. The business operates as an online marketplace, acting as an intermediary between property developers, builders, and potential buyers or tenants. Its revenue model is multifaceted, primarily generating income through fees paid by developers for listing their projects. Additional revenue streams include advertising from related sectors like banking, premium services for property owners such as enhanced listings, and fees from vendors like architects and plumbers who use the platform to reach homeowners.

The platform's core offering is a map-based property search combined with a community-centric approach. A key feature that set it apart was providing a forum for prospective buyers to ask questions and receive answers from residents of those communities, offering authentic insights. Over the years, the company expanded its technological offerings to include mobile apps with augmented reality features, virtual property tours, and detailed photographic verification of listings. A significant part of its business was the "CommonFloor Groups" apartment management software, which provided tools for communication and coordination within residential communities. The company achieved significant growth, raising approximately $69.6M in funding from investors like Tiger Global Management, Accel, and Google Capital. In January 2016, the classifieds platform Quikr acquired CommonFloor in an all-stock deal. The founders transitioned out of the company about a year after the acquisition to pursue new ventures.

Keywords: real estate portal, property listing, apartment management, proptech, online marketplace, real estate search, community management, property technology, India real estate, Quikr