PropTiger, Housing merge to make online realty giant

Deal to draw curtains on Housing, who fought with investors & employees, before being sacked in 2015

PropTiger and Housing.com — two rivals in the housing sector — on Tuesday announced a merger to create what they claim is the largest online real estate services company in the country. It would be valued at $250 million (Rs 1,700 crore), said a source.

NewsCorp-backed digital property advertising firm, REA Group, has invested $50 million (Rs 340 crore) in the new entity. A SoftBank associate firm will also invest $5 million (Rs 34 crore). NewsCorp is the largest shareholder of PropTiger; SoftBank backs Housing.com. 

Representatives of SoftBank and REA would join the board of the new entity, to be