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Housing secures undisclosed funding from Vineet Singh


Housing.com has raised an undisclosed amount of funding from Vineet Singh and will also join the company as a senior advisor. Singh is the co-founder and CEO of Buildzar, an online portal for buying construction material, which raised $4 million in January.

Previously, Singh was the Executive VP at 99Acres for more than 6 years; before which he headed Naukri and Jeevansathi as its Senior VP for International Sales & Business operations for over 7 years. He also worked with Xerox and Thomas Cook at various managerial and development roles.

Housing fundraise: In January, Housing secured Rs 100 crore in funding from Softbank, its largest investor, to drive its new strategy and growth plans. In December 2014, it raised $90 million from Softbank with participation from Falcon Edge and other unnamed investors.

The Mumbai-based startup was originally co-founded in June 2012 by Amrit Raj , Ravish Naresh , Vaibhav Tolia , Advitiya Sharma, and Rahul Yadav. The real estate portal currently offers home buying and selling, it stopped offering rental-listing services last month. Jason Kothari is the current CEO of housing, and last month Housing’s co-founder Advitiya Sharma quit the company’s board.

Layoffs: In November, Housing laid off an undisclosed number of number of employees as a part of its restructuring plans to shift its focus more on the home-buying segment; an Economic Times report pegs the number at 200. In August 2015, it let go of 160 employees as it planned to focus on its core products.

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Housing’s Acquisitions: 

-In September 2015, Housing acqui-hired Plat, a startup which operates an online network for agents where they can share real estate inventories and requirement. At the same time, it also acquired BigBHK, a property management software targeted at rentals suppliers.

– In August 2015, the company acquired sales lifecycle management HomeBuy360 for $2 million. HomeBuy allows builders, brokers and buyers to manage pre-sales, post-sales and value added services like chat, task management, reporting and dashboard among others.

– In May 2015, Housing acquired the Delhi-based real estate analytics portal Realty Business Intelligence for an estimated $2-4 million. According to Housing, the acquisition would help it provide users, including real estate investors, with more data to make informed purchases.

– In March 2015, the real estate portal acquired realty-focused online community Indian Real Estate Forum (IREF) for Rs 8 crore. The forum had about 1.5 lakh members, though it’s not clear how many of them were active users. IREF functions as an independent entity, with Housing co-founder Ravish Naresh heading it.

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