Update: Post publishing this story, we got following response from Housing – “This is completely untrue and inaccurate. We are in NO Talks with anybody for any sale”
Snapdeal is reportedly looking to acquire the real estate platform Housing.com. According to people close to the development, the discussion is in the nascent stage and would be formalised in the next 2-4 months. The deal will value Housing at approximately $650 Mn – $700 Mn.
Last year, Housing has managed to be in news every month that initially started with the Rahul Yadav Saga and later, back to back mass firings. The company has already fired about over 900 employees in a series of layoffs in last few months to meet the cost reduction targets set by its investors.
The company had also acquired a number of startups last year that includes online discussion forum for sharing real estate information, “Indian Real Estate Forum” (IREF) for about INR 8 Cr., later on went on to acquire Realty Business Intelligence for about $1.5 Mn (INR 10 Cr.) and then acquired HomeBuy360, a unique cloud based Sales Lifecycle Management Platform that connects developers, agents and buyers for $2 Mn towards. Besides, the company had also acqui-hired Plat, an online network for agents enabling them to share real estate inventories and requirements and BigBHK, a property management software (PMS) targeted at rental suppliers in late 2015.