After acquiring Bengaluru-based design firm, Out of Box Interaction (OoBI) earlier this month, Indian online real estate marketing platform PropTiger, has acquired rival listing firm Makaan. The deal amount and terms of the transaction are still undisclosed.
The transaction will bring Makaan and PropTiger together onto an online real estate platform, offering end-to-end services to home buyers, real estate developers, property brokers, banks and private equity investors.
In November 2014, News Corp, the New-York based global media and information services company, had acquired a 25 percent stake in the parent company of PropTiger, an online real estate marketing platform in India, for $30 million. In addition to this, existing investors SAIF Partners, Accel Partners and Horizon Ventures, have invested another $7 million in the company.
Since 2011, some 12,000 homes worth $1.2 billion have been purchased through the Proptiger.com platform.
Makaan has around 200,000 active property listings and relationships with 40,000 brokers in 50 Indian cities. Around 40% of Makaan.com’s traffic comes from mobileCategory Business Investments