Housing.com is not for sale, says CEO Jason Kothari

However, Kothari said the company is looking at potentially acquiring companies or partnering with them to drive inorganically.

NEW DELHI: Putting all rumours to rest about Housing.com being in talks with Snapdeal for selling its business, the company’s chief executive officer Jason Kothari clarified that Housing.com was not for sale and was not in talks with anyone.

However, Kothari said the company is looking at potentially acquiring companies or partnering with them to drive inorganic growth.

Kothari said the company will try and raise capital later this year.

Housing.com in December raised an additional Rs 100 crore in funding from Japan’s SoftBank. The company had raised $90 million in a round led by Softbank in December 2014.

After the ouster of Housing.com’s controversial co-founder Rahul Yadav in July last year, Jason Kothari was promoted from chief business officer to chief executive officer of the company in November last year.

The company has recently scaled down its listings and rentals, commercial properties, short stays and land businesses and increased its focus on home buying and selling business.

It has also seen many top level changes, with first its co-founder Advitiya Sharma resigning in March this year, following which three more co-founders Abhishek Anand, Ravish Naresh and Sanat Ghosh put in their papers in April.

New additions to Housing.com’s senior management team include Mani Rangarajan, chief financial officer; Nikhil Rungta, chief marketing officer; Nandini Mehta, general counsel; and Abhishek Hota, chief of staff.

Kothari claims the company’s visitors have grown 350% in last six months and it at present has 3.5 million visitors per month. Revenue is growing exponentially at a rate of about 200% month on month, he said.

The company is also looking to expand offline by offering on-ground support for real estate transactions, Kothari informs.

Source: http://realty.economictimes.indiatimes.com/news/industry/housing-com-is-not-for-sale-says-ceo-jason-kothari/52427409



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