Hard truths

Pop goes the Housing.com bubble

Housing has found a buyer. Which is a miracle. One that begs the question, Dear Lord, why would anyone pay a dime for Housing?

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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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