As of now, both the companies will continue to operate separately
News Corp-backed real estate portal PropTiger, through its Singapore arm Elara Technologies, has acquired online property listings and classifieds player Makaan at an undisclosed sum. The transaction, which brings Makaan and PropTiger platforms together, will offer end-to-end services to home buyers, real estate developers, property brokers, banks and private equity investors.
“Together, PropTiger and Makaan will provide home buyers with a powerful online real estate platform to guide them through the early stages of home search and identification and all the way until they have the keys to their dream home,” said Dhruv Agarwala, Co-founder and CEO, PropTiger.
As of now, both the companies will continue to operate separately.
Earlier this month, PropTiger announced the acquisition of Bangalore-based Out of Box Interaction (OoBI), a digital interaction design company.
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“India’s home-buyers will now have the biggest database of real estate information and related online real estate services that will also offer end-to-end services in major cities nationwide,” added Aditya Verma, CEO, Makaan. Following the transaction, Verma will report to Agarwala.
Makaan was founded in 2007 within the People Group by entrepreneur and investor Anupam Mittal, whose digital ventures in India also include the matchmaking site Shaadi and mobile content and commerce company Mauj Mobile.
In November 2014, News Corp took a 25 per cent stake in Elara Technologies, the parent company of PropTiger. Elara’s other major investors include SAIF Partners, Accel Partners and Horizon Ventures.
Image Credits: Maxx-Studio/ Shutterstock
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