Online real estate portal, Housing.com is in talks to acquire Delhi-based real estate data product PropEquity for a deal amount of Rs 80 crore.
As per a VCCircle report, Housing.com offered around Rs 80 crore for the company which recorded revenues of Rs 13.7 crore in 2014 and losses of Rs 70 lakh.
PropEquity was started by founder and CEO Samir Jasuja, it is an online subscription based real estate data and analytics platform covering over 45,000 projects of 8,200 developers across over 40 cities in India. The firm adds approximately 500 projects every month. Currently, the company has over 250 employees.
Housing was launched in 2012 by a dozen of IITians including Advitiya Sharma. Recently, it had made a tie up with Tata Value Homes to sell homes online using its website, further it launched a new feature ‘Slice View’ to provide home buyers an interactive exploration of a project before making a booking.
Till date, Housing.com has secured a total funding of over USD 121 million in 5 rounds of funding. In December 2014, the Japanese investment company SoftBank had confirmed leading a USD 90 million round, with participation from Falcon Edge Capital in Housing.com. Currently, it provides searches in 45 cities with a presence in western and southern India.