Rupert Murdoch led News Corp on 25 November 2014 acquired 25 percent stake in PropTiger.com for 185 crore rupees.
Based out of Noida, PropTiger is one of India’s largest online real estate brokerage firms aimed at first time home buyers.
The company operates only in 8 major cities in the country: Noida, Gurgaon, Mumbai, Pune, Bangalore, Chennai, Kolkata and Ahmedabad.
The real estate website was founded in 2011 by Dhruv Agarwala, Kartik Varma and Prashan Agarwal and has already received investments from Accel Partners, SAIF Partners and Horizen Ventures.
The three founders are all industry veterans. Agarwala was the CEO of GE's Infrastructure business in India, Varma has worked with fund houses like TCI Fund Management and Agarwal earlier had another real estate brokerage firm before joining PropTiger.
Unlike other real estate websites that offer a plethora of services, PropTiger claims to offer only two services: property advisory and loan advisory for customers.
The company claims to have pioneered other innovations like Property Portfolio, Livability and Safety Scores, Resale Price Estimates and detailed Micro-Market Trends and Analyses. It also recently launched Data Labs services for real estate developers, private equity investors and banks.
When: 25 November 2014
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