Online real estate portal Housing.com has acquired Delhi-based, Realty Business Intelligence, an organization aimed at providing uncluttered & intelligent information on the Real Estate Sector. The deal is said to be of $2-4Mn (INR12-24 crore).
Reality Business Intelligence Pvt. Ltd. is a professional’s organization founded by Rajeev Nohwar in 2013, based in Delhi. The organisation provides uncluttered & intelligent information on the Real Estate Sector, tracking Real Estate trends and creating Collateral Risk Management Tools through the use of technology. The company’s client base includes Foreign banks, Private Indian Banks, Nationalized Banks and HFCs / NBFCs.
This new acquisition will help Housing, in developing its analytical capabilities and thereby, help customers in making intelligent real estate purchases.
Housing.com has previously, acquired “Indian Real Estate Forum” (IREF), an online discussion forum for sharing real estate information for about INR 8 Cr. in March 2015.
Housing is one of the fastest growing companies in India. After having received several rounds of funding, they have expanded to over 100 cities, and employed over 2,000 individuals. Housing has brought in various new features to the real estate space, such as Verified listings, Slice & Aerial view option of the house, data-based solutions such as the Lifestyle Rating, Price Heat Maps, Visibility Index and Demand Flux Map.
Housing’s CEO Rahul Yadav, has been making headlines for the past series of months, crediting to his berserk decisions. In the recent news, he allotted all of his personal shares ranging between INR 150 Cr. and INR 200 Cr. – to all of the 2251 employees of Housing.com and justified the step by saying, “It’s too early in life to get serious about money”. Previously, he claimed that company’s investors are unworthy of his time and offered resignation, which he later pulled back, at the cost of losing his authority to make financial decisions.
Mumbai-based, Housing.com was co-founded by a group of 12 IIT-B alumni in 2012. The company raised a total of $139.5 Mn in 4 rounds of funding by investors including Softbank Capital, Helion Venture Partners, Nexus Venture Partners and Qualcomm Ventures.
In the same space, Commonfloor acquired Bakfy,an anonymous chat app for students in January 2015. Followed by a fund raise from Google Capital in the same month. Other players in online real estate include 99acres, MagicBricks, Indiaproperty, Makaan, among others.