India: Realty slump, funds squeeze take the sheen off online property business

India: Realty slump, funds squeeze take the sheen off online property business

New entrants such as Housing.com, which counts Japan’s SoftBank as an investor, and Sequoia Capital-backed Grabhouse are shedding jobs by the dozen to cope with the slowdown and even restructuring their businesses.Photo: Aniruddha Chowdhury/Mint

A real estate boom a decade ago and the success of online property sites such as Zillow and Trulia in the US had spawned local copycats such as 99acres and Commonfloor.

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