PropTiger to buy

PropTiger to buy
09/01/2017 , by , in News/Views

Online realty portal Housing is in advance stages of discussions with rival firm PropTiger for a sale.

Elara Technologies, which owns and runs PropTiger, is expected to get a fund infusion of $100-120 million from existing investor New Corp and Australia’s REA Group.

Mumbai-based Housing has been in talks for a sale for over a year but a definitive agreement is still to be signed. Sources said an announcement of the merger and the financing from News Corp is expected over the next few days. Housing CEO Jason Kothari told TOI, “We have been looking at the possibility of a merger for a while now but as we speak nothing has been completed,” he said. Both News Corp and PropTiger refused to comment. In September last year, both the online portals had struck a partnership for revenue-sharing agreement to use each other’s core capabilities. This was being seen as a precursor to an imminent marriage between the two.

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