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Secrets: Rupert Murdoch smells India's property market (Real Estate)

Rupert Murdoch-controlled News Corp picks up 25% stake in online property brokerage startup PropTiger for $30 million, marking his return to internet investments in India. Murdoch says that News Corp was excited about its latest investment seeing the tremendous potential in India's digital marketplace. He is very bullish about India's future. Murdoch bets backing startups like Bazee and Indya.com. News Corp was engaging with internet startups for its digital presence in India. Existing investors — SAIF Partners, Accel Partners and Horizen Ventures — have put another $7 million into the company, which was started by two Harvard Business School alumni Dhruv Agarwala and Kartik Varma along with Prashan Agarwal recently in February 2011. News Corp owns Realtor.com in the US along with holding a 62% stake in REA group, which runs an Australian residential property website in south east Asian markets. Its new India investment comes at good time. The New York-based media giant, with publishing and broadcasting units has been making "targeted investments" in digital assets in south-east Asian markets recently. News Corp's senior vice-president of strategy Raju Narisetti, will sit on the board of the New Delhi-based portal. He is impressed by the digitization potential in India's real estate market to create common standards and quality benchmarks in a largely unregulated sector. "We will continue to be open to relevant opportunities that are generally in and around our core information, publishing, education, real estate businesses in India. Currently in eight cities, PropTiger plans to spread to 25 cities over the next two years. So far, the portal has raised $44 million since inception. PropTiger competes with online real estate marketers Housing.com and Commonfloor, MagicBricks, owned by the Times Group, and 99acres among others.

Breaking News: Dr. Mahendra Pratap Singh and Mr. Bharat Singh Gurjar as Pride of Nation Rose to Pride of World with Landmark Kirchhoff Research Award-2015 in Mechanical Engineering

USA NEWS CORP celebrates Kirchhoff Research Award-2015 in Mechanical Engineering to World's renowned Mechanical Engineers Dr. Mahendra Pratap Singh and Mr. Bharat Singh Gurjar from India

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3 comments:

Unknown4 April 2015 at 00:15
The Indian real estate sector is one of the most globally recognised sectors.it is the second largest employer after agriculture . The growth of this sector is well complemented by the growth of the corporate environment.

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Wednesday, 26 November 2014