Housing.com Is Buying Realty BI After PropEquity Deal Fell Through

28/05/2015 4:10 PM IST | Updated 15/07/2016 8:25 AM IST
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In a recent interview, Housing.com's CEO and founder Rahul Yadav had said he was interested in more acquisitions to strengthen the data analytics capabilities of the company.

He seems to have just done that. According to reports, the firm has acquired Delhi-based firm Realty Business Intelligence for an estimated $2-4 million (Rs 12-24 crore). Deeper analytics will help consumers make more informed decisions regarding real estate transactions, much of which is currently part of the unorganized market.

A company spokesperson declined to comment on the deal when contacted by HuffPost.

Founded in 2013, Realty BI tracks real estate trends and creates collateral risk management tools through the use of technology. Its clients include banks and financial institutions.

Housing's previous acquisitions include Indian Real Estate Forum, through which it wanted to give more information to buyers about property on an online forum. There were reports that PropEquity, a property analytics firm, could be next, but that deal fell through over differences in valuation.

Housing.com has emerged as one of India's hottest startups, after it raised $90 million in its last round, led by Japan's Softbank. It's most visible face is Rahul Yadav, who is one of 12 co-founders, all classmates from IIT Bombay. Yadav dropped out in the third year, and has recently been controversial for his comments on Sequoia's Shailendra Singh, and a public spat with his investors, who hold seats on the board. They include Helion Venture Partners, Nexus Venture Partners and Qualcomm Ventures.

Housing.com's competitor CommonFloor was also in the race to acquire Realty BI, according to reports.

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