Housing has found a buyer. Which is a miracle. One that begs the question, Dear Lord, why would anyone pay a dime for Housing?
Patanjali Pahwa, Ashish K. Mishra
All stock deal with PropTiger valued at $20-$25 million
In FY15, Housing made Rs 5.4 crore, spent Rs 291 crore and recorded a total loss of Rs 279 crore
Housing.com was started as a rental real estate website and the new management shut it down
Over its lifetime, Housing laid off over 1,300 staffers. At its peak, the startup had 3,000 people working for it
The rumour mills have been abuzz that PropTiger is going to acquire Housing. Over the last couple of weeks, The Ken spoke to six people, a mix of investors, sources inside Housing and competitors, and all of them said that the deal is almost through. That it will be announced shortly. The deal size is about $20-25 million. All stock.
But why, really?
The last available financials of Housing (Locon Solutions Private Ltd) paint a fascinating picture. As of March 2015. Revenue from operations: Rs 5.4 crore. Other…
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