PropTiger and Housing.com merge at an undisclosed valuation; raise $55 million from REA, Softbank
Advertisement
Advertisement
At an undisclosed valuation, Real estate portal PropTiger and Housing.com have merged in an all stock deal.
The company, in a statement, confirmed that global online real estate advertising company REA Group will invest $50 million in the joint entity while Softbank will put in $5 million.
"India is an important part of our international growth strategy. The joint entity will have access to REA Group's expertise and know-how from its operations across the globe,” said REA Group CEO Tracy Fellows.
Advertisement
Reportedly, in the tie up, new projects showcased on the
After the ouster of Housing's founder Rahul Yadav, most of the company cofounders quit the startup. However at the same time, under the leadership of Kothari the company has revamped its top management and appointed more experienced talent on its board including former Google and Amazon top executive Vivek Jain as its chief product and technology officer and Keerthi Kiran as the head of new real estate projects.
PropTiger on the other hand says it distinguishes itself in the market by offering customers an end-to-end service from house discovery to final purchase, including arranging site visits, assisting with home loans and property registrations.
The company's other investors include SAIF Partners and Accel Partners. News Corp acquired 25% stake in Elara in November 2014 for $30 million and increased its stake to about 30% in June 2015.
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings