Housing acquires HomeBuy360 for $2 million

The acquisition will enable developers, agents and buyers to interact on a single platform

Property portal Housing.com has acquired HomeBuy360, a cloud-based sales lifecycle management platform that connects developers, agents and buyers, for $2 million (Rs 13 crore).

This is the third acquisition made by the company in 2015. It had bought Indian Real Estate Forum, a platform that provides unbiased property information to consumers earlier. 

"Developers are key stakeholders to drive efficiency in the real estate sector. The acquisition of HB360 is very strategic, as our vision is that every developer uses the platform to bring down their sales and operating costs. This will help in reduction of property prices, eventually benefiting the consumers," said Rishabh Gupta, chief executive officer and chief operating officer.

Housing.com is consolidating its leadership position as a comprehensive online realty player and a game changer, striving to bring positive change in the real estate sector, adds Gupta.

"Leveraging this unique platform, developers and agents can streamline the entire sales lifecycle, by tracking inventory, managing customer relations and in effect drive efficiencies in their sale operations. This will help reduce costs for at least 20,000 developers in the realty system. This acquisition will also fortify Housing.com’s data science lab with rich data on inventory and transactions in the real estate sector," he said.

Rajat Kothari, founder and chief executive, HomeBuy360, said: "Housing.com 's strong developer network pan India will allow us to further scale our business nationally. "

Housing now has more than 2,551 employees in over 100 cities across India.