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SoftBank Corp announced its third investment of 570 crore rupees in Housing.com

Dec 19, 2014 18:20 IST

Japanese telecom & internet giant SoftBank Corp on 16 December 2014 announced its third investment of 570 crore rupees in Housing.com.

SoftBank will acquire around 30% stake in the property portal for 470 crore rupees. With this, the value of Housing.com increased to 1550 crore rupees.

Online real-estate ventures have seen a steady flow of investor money in recent months with the likes of PropTiger getting a 30 million US dollar investment from Rupert Murdoch's NewsCorp.

The existing companies in the housing sector are 99acres, Magicbricks, part of the Times Group, and new-age startups like Bengaluru-based Commonfloor.

Housing sector is witnessing a promising future because of its technology backbone and heavy focus on data and analytics.

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Read more Current Affairs on: SoftBank Corp , Housing.com , Property portal ,

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