Housing.com, Mumbai- based real estate portal established in 2012, is planning to buy two more startups in a bid to increase its technology and data analytic capability.Two startups, Realty Business Intelligence and Nestaway Technologies are in the acquisition stage by Housing.com. Realty Business Intelligence is an information portal focused on the realty industry while Nestaway Technologies, an online marketplace for shared accommodation for singles.
Sources say that Housing is willing to pay upwards of Rs 18 crore to acquire Realty Business. And with Nestaway, ongoing talks are going on and no deal value has been negotiated as yet, said those involved in the discussions.
Only, last week, Housing. Com had acquired online discussion platform Indian Real Estate Forum for about Rs 7 crore. It was contemplating acquiring the real estate analytics firm, PropEquity for Rs 80 crore. Housing.com is backed by Japan’s Softbank. Housing.com has laid aside around Rs 200 crore to spend on acquisitions.
Nestaway Technologies is based in Bengaluru and earlier in the month had raised about Rs 8 crore ($1.25 million) from IDG Ventures and a string of angel investors including InMobi co founder Naveen Tewari. The other startup, Realty Business Intelligence, is a company that tracks real estate trends and creates collateral risk management tools through the use of technology.
Experts opine that portals equipped with analytics can help consumers and investors in making informed decisions.
According to a consultancy company, "The predictive power of the analytical models thus made based on these data can sometimes be excellent and can help better decision making. Also, the transparency will lead to less potential bubbles for data on prices for a neighborhood, one will not depend on the broker alone," said Sumchit Anand, managing director of Acquisory Consulting.
Housing.com was conceptualised by 12 Mumbai IIT classmates. The company’s most recent funding came from Inits, in late 2014. It received $90 million led by Softbank, and has so far raised a total of $121 million in venture funding.Other investors in in Housing.com include Helion Venture Partners, Nexus Venture Partners and Qualcomm Ventures.x