Housing.com and PropTiger merge in an all-stock deal, raise $55 million in fresh capital
Rreal estate website PropTiger has merged with Housing.com in an all-stock deal, bringing to an end the contentious saga of the Mumbai startup and creating one of the country s largest digital platforms for property listings.
As part of the deal, the combined entity will raise $50 million from News Corp-owned online real estate advertising company REA Group and another $5 million from Japan s SoftBank, the primary investor in Housing.com.
The fundraising will be executed at a valuation of about $250 million for the merged company,Housing has been valued at about $70 million, unchanged from two months ago when it raised $5 million in bridge funding from Soft-Bank.PropTiger s other investors include SAIF Partners and Accel Partners. News Corp acquired a 25% stake in PropTiger s Singaporebased parent, Elara Technologies Pte, in November 2014 for $30 million and increased its stake to about 30% in June 2015.