Indian Real Estate Website PropTiger
Information Corp. Says it has invested in a real estate site in India as it tries to develop its digital business.
The new York-based totally media firm, which is managed by way of Rupert Murdoch, owns the Wall boulevard Journal newspaper and HarperCollins book publisher and runs the actual estate web site realtor.com.
News Corp. Mentioned Monday that it paid $30 million (approximately Rs. 185 crores) for a 25 % stake in Elara applied sciences Pte Ltd., which owns the Indian site, proptiger.com. A information Corp. Government will sign up for Elara’s Singapore-primarily based board.
Ultimate year, information Corp. Split its newspaper and publishing business from its extra-successful broadcast and entertainment operations, now referred to as twenty first Century Fox Inc.
Prior this month, jap telecom giant Softbank was once stated to have invested in another Indian actual estate web page, Housing.com.
Indian Real Estate Website PropTiger Gets Investment From News Corp
Housing.com is said to be valued at about $250 million (approximately Rs. 1,500 crores), by which Softbank will reportedly collect a 30 % stake with an funding of $70 million (approximately Rs. 430 crores).
The document stated $250 million was a ‘pre-money’ valuation, and it could be significantly larger ‘submit-money’. As yet, both Housing.com and Softbank have now not commented on the studies.
Final month, Softbank had highlighted India was a precedence in its aggressive expansion out of the country. The company had agreed to buy a $627 million (approximately Rs. 3,800 crores) stake in Indian on-line retailer Snapdeal, and a $210 million investment in ANI technologies (which operates Ola Cabs).