Housing.com may soon lose its ‘Indian only’ tag

When it rains, it pours. This is what is happening with Mumbai-based Housing.com. It is in negotiations with Chinese realty SouFun for either buyout or strategic investment.

Not only SouFun, China’s largest search provider, Baidu, has also shown interest in Housing.com, which was founded in 2012 by a group of IIT-Bombay students.

Investment from SouFun will give a major boost to the realty firm, which has been looking for new investors.

Meanwhile, SoftBank, which owns 32% stake in Housing.com, is expected to provide $30 million as a bridge round, sources told Economic Times.

After the ouster of cofounder Rahul Yadav in July, Housing.com has focused on building new products to boost income.
The company had also laid off 160 people.

Housing.com has attracted more than $120 million (Rs 760 crore) in funding and is valued at over Rs 1,500 crore.