online realty portal

Housing.com Shuts Down, Announced Merger With PropTiger

10Jan By PriyankaNo Comments

ACQUISITION

Housing.com Shuts Down, Announced Merger With PropTiger

In a major consolidation in the online realty space, PropTiger.com and Housing.com today announced a merger to create Indias largest online real estate services company and the joint entity will raise USD 55 million of fresh investment. News Corp-backed PropTiger.com and SoftBank-backed Housing.com announced "they will come together to become India's largest online real estate services company." As part of the transaction, REA Group Ltd will invest USD 50 million in the joint entity with an affiliate of SoftBank Group Corp, investing USD 5 million. News Corp remains the largest shareholder of PropTiger, and also owns 61.6% of REA Group. Representatives of REA and SoftBank will join the board of the joint entity, which will continue to be chaired by a News Corp representative. Dhru...

Housing.com Target $10 mn Revenue in 2016

Housing.com , which has raised over $ 100 million from various investors including Softbank and has restructured the business, today said it expects $ 10 million revenue in the current fiscal. Last November, it had decided to monetize its products as part of the restructuring exercise. "Housing.com is receiving an overwhelming response to the products it launched in January with revenue growing 200 percent month-on-month and the company on track to achieve $10 million in revenue this fiscal year," it said in a statement. After the company decided to focus its business on home buying and selling, Housing.com said it has started a series of digital advertising products for developers and brokers to provide maximum customer exposure and return on investment for their home sal...

Housing.com to restructure business, will focus on buying and selling of apartments

One of the biggest Online Realty portal in India, Housing.com will restructure its business to focus only on buying and selling of apartments, and also reduce its employee strength. SoftBank backed-Housing.com, which was founded in 2012, provides independently verified listings of homes. It has presence in 50 cities with about 2,500 staff members. "The company is restructuring to focus on the home-buying real estate segment and drive further efficiencies across the company", Housing.com said in a statement. "Furthermore, Housing.com will be reorganizing its teams to more efficiently execute this new focused strategy and, as a result, will be reducing its employee base", it added. The company however did not specify the number of employees it would reduce. "Housing....