News NEWS CORP raises stake in Prop tiger

[Technoglitch]

Rupert Murdoch led media company News Corp today said it has raised stake in Singapore based Elara Technologies, the parent of real estate portal PropTiger.com, from 25% to 30%.

News Corp has not disclosed the value of the deal.

News Corp first acquired a 25% stake in Elara in November 2014 for an announced valued of $30 million.

PropTiger has since acquired digital design startup Out of Box Interaction (OoBI) as well as adding property search portal Makaan.com to its industry-leading portfolio of offerings and capabilities.

“We strongly believe the combination of PropTiger.com and Makaan.com is best poised to be the dominant digital real-estate platform in India for years to come,” said Raju Narisetti, Senior Vice President, Strategy, for News Corp, who also chairs Elara’s Singapore-based board. “While India’s real estate sector continues to work its way through challenging macro conditions, we remain very optimistic, not only about India’s long-term potential, but also about the management team of PropTiger in its ability to execute, rationally and deliberately.”
http://www.business-standard.com/ar...-stake-in-proptiger-to-30-115061600412_1.html

 

[scorpionking76]

I read this in TOI he is now aiming for a global foot print

 

[IndianMascot]

So now property portals also are getting foreign findings and internally one acquiring the another.

 

[Technoglitch]

so now even property is under foreign companies now,

 

[IndianMascot]

After huge funding and ad campaign by housing dot com , suddenly remaining companies had sighted interest too