Locon Solutions Pvt. Ltd. (known as Housing.com) and SoftBank Internet and Media, Inc. (“SIMI”) today announced a definitive agreement under which the SoftBank Group (further described below) will lead an investment of $90 million in Housing.com, along with existing investors.
Housing.com will use the funds to map over 40 million houses across 300 cities in India and provide On-Off buttons to home owners and agents, to reactivate their assets on Housing.com once they’re available in the market.
Advitiya Sharma, Co-Founder of Housing.com said, “Ever since we started the company we had a huge vision, to help millions of people struggling to find Real Estate that meets their requirements perfectly. We’ve put in all our focus into building great products and mapping every single house in the country, on the platform! In our journey we have been fortunate to have found great partners in our investors, and the whole team is excited to work with SoftBank and achieve this vision together.”
Through this partnership with Housing.com, SoftBank aims to further invest in the digital infrastructure of India and build synergies with its network of Internet companies in India and around the world.
Nikesh Arora, Vice Chairman of SoftBank Corp. and CEO of SIMI said, “We are big believers in India’s digital future and its potential to improve peoples’ lives. The Housing.com team has a great vision and deep insight into what it takes to build great products, and transform the way people research and transact in real estate. We look forward to working with and supporting Housing.com’s growth.”
Recently Housing.com launched the world’s first interactive home booking platform – Slice View for which it partnered with Tata Value Homes. A campaign encompassing four projects across three cities was met with phenomenal success. Within a short span of just five days, Housing.com exclusively marketed more than half of Tata Value Homes inventory and generated over 50 Cr of Gross Merchandise Value marketed through the Slice View platform. Given the unprecedented success of the campaign, Housing.com has received numerous inbound requests from various developers for similar campaigns and Housing.com will do over 500 such launch campaigns in 2015!