Online real estate portal, Housing.com has acquired online discussion site, Indian Real Estate Forum for $1.2 million in an all cash deal. Through this acquisition, the company is aiming to provide helpful content to buyers on its buying platform. Also, the company is in late stage talks to acquire PropEquity for Rs 80 crore.
Post acquisition, IREF will function as an independent entity under the charge of Ravish Naresh, a cofounder at Housing. The company has about 3 employees who will join Housing.com. As per an ET report, Housing plan to introduce a section in the platform called “Ask me anything” on (IREF) which will attempt to answer any queries related to projects, brokers and builders, said a spokesperson.
Founded in 2007, as a venture of Rohini Dutt, IREF gives information such as new projects, developers, localities, brokers, and plots before making the purchase. It claims to have a base of about 1.5 lakh active users on its forum.
Housing.com is a Mumbai-based company, which received funding of about $90 million in December 2014 from SoftBank and Falcon Edge Capital. It’s competitor CommonFloor raised $15 million funding from Google Capital in January this year.
In November 2014, Housing had made tie up with Tata Value Homes to sell its 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.