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.
This article was first published on Livemint.com