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PropTiger acquired Makaan.com

Apr 30, 2015 11:45 IST

PropTiger.com on 29 April 2015 has acquired rival Makaan.com to expand its presence in the secondary property market.

The amount of the deal was not disclosed. PropTiger is the online realty services firm backed by media magnate Rupert Murdoch.

PropTiger had acquired Bengaluru-based Out of Box Interaction (OoBI), a digital interaction design company in March 2015.

In November 2014, the Murdoch-led News Corp had acquired 25 per cent stake in PropTiger for 185 crore rupees as part of a strategy to expand presence in digital media.

Makaan.com has a strong presence in the property resale market, while PropTiger is strong in the primary market. Makaan.com has 40000 brokers across 50 major cities, having dominance in the secondary market.

Since 2011, around 12000 homes worth 1.2 billion US Dollar have been purchased through PropTiger's platform.

Makaan.com has around 200000 active property listings and relationships with 40000 brokers in 50 cities. It was founded within People Group by entrepreneur and investor Anupam Mittal, whose other digital ventures include Shaadi.com and Mauj Mobile.

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Read more Current Affairs on: Makan.com , PropTiger.com

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