India: PropTiger acquires augmented reality start-up 3DPhy

Real estate portal PropTiger.com, backed by Rupert Murdoch-controlled News Corp., Thursday said it has acquired virtual and augmented reality start-up 3DPhy. The company did not disclose the value of the transaction.

With this acquisition, PropTiger aims to enhance its visual marketing solutions for developers, it said in a statement.

Following the acquisition, the team of 12 people of 3DPhy will join PropTiger.

The Gurgaon-based 3DPhy offers 360-degree virtual walk-throughs and enables builders and brokers to showcase multiple properties over phones, laptops, tablets or head-mounted devices. It was founded by a group of Indian Institute of Technology (IIT) Kharagpur alumni.

“With mobile devices overtaking desktops, the real estate sector has become one of the prime sectors where people want to have the ability to search anywhere and anytime, and that is a big priority for us,” said Dhruv Agarwala, chief executive officer, PropTiger.

PropTiger, a digital real estate marketing and transaction services provider, is owned by Elara Technologies Pte Ltd. News Corp. acquired a 25% stake in the company for $30 million as part of a strategy to expand its presence in digital media in 2014. Besides News Corp, it is funded by SAIF Partners, Accel Partners and Horizen Ventures.

Last year, it also bought Bengaluru-based interactive technology firm OoBi and online property Makaan.com for undisclosed amounts.

PropTiger claims to have sold homes worth over Rs.10,000 crore to more than 15,000 customers since its inception.

PropTiger was launched in 2011 by Agarwala, Prashan Agarwal and Kartik Varma. Agarwal, however, quit the company to start a different venture last year.

Also Read: Not looking to sell Housing.com, keen on acquisitions to drive growth: CEO Jason Kothari

This article was first published on Livemint.com

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.