Business Acquires New Delhi Based Realty Business Intelligence For $2-4M

Softbank-backed real estate portal has acquired New Delhi-based startup Realty Business Intelligence, that tracks real estate trends and creates collateral risk management tools by the use of technology. The deal amount is estimated to be between $2-4 million.

As per an ET report, the acquisition will help to strengthen its analytics capabilities to help consumers and investors make informed decisions about real estate purchases.

In March this year, the firm had acquired online discussion site, Indian Real Estate Forum for $1.2 million and was also looking to acquire Delhi-based real estate data product PropEquity. But as per a BusinessStandard report, the deal had been put off due to valuation concerns.

Apart from the $90 million funding led by Softbank, the company is also backed by investors like Helion Venture Partners, Nexus venture Partners, and Qualcomm Ventures. It competes with other players like CommonFloor, MagicBricks, and 99Acres.

The company has been in news for the last couple of months because of its CEO Rahul Yadav creating stir in the ecosystem with his controversial behaviour.

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