March 17 2016, 17.20 PM IST || Pocket News Alert
Integrating Properji’s expertise, Magicbricks hopes to inject confidence and strong decision support to buyers
New Delhi, 17 March: Magicbricks.com, India’s leading property portal, has announced the acquihire of Invact Technologies, a company that runs a property-analysis platform, Properji.com. Properji provides buyers with detailed research and analysis to help consumers in making the right property decision.
Properji provides fact based analysis of Projects, backed by secondary and primary research, to help customers in what is possibly the most valuable decision of their lives. Properji started its operations in 2013 and over this period, they’ve collected proprietary information and developed algorithmically-driven builder, locality and infrastructures scores. All of which helps to produce credible, informative project reports.
This acquisition helps Magicbricks to strengthen its consumer proposition by offering in-depth information and analysis of projects that help consumers to choose the project that best suits their needs. It also helps them to bring quality talent on-board such as co-founders of Properji.com, Priya Maheshwari and Guruprasad Bangle.
Elaborating on this, Sudhir Pai, CEO – Magicbricks.com, said: “As India’s largest property portal, we’ve largely addressed the problem of listing discovery. We have over 80K projects and over 1.2Million listings on Magicbricks. Given this our consumers are asking us less about inventory availability, they are asking us more to help them with information that would help them choose between properties. This acquihire will help the consumer to make an informed property buying decision. With Properji’s expertise, we hope to inject confidence and strong decision support to buyers.”
Commenting on the Acquihire, Priya Maheshwari, Co-Founder, Properji said: “Magicbricks has a lot of data at its backend, in addition to the vast scale of the platform in the form of users and developers. Combining this vintage and scale with the systems and knowledge that Properji founders provide, consumers are sure to be in good hands when they access the research platform being built under this partnership.”
“Magicbricks has been a pioneer in the online real estate listing services in India and has been trying to make this sector as transparent as possible. Armed with the research and in depth analysis that we are providing, consumers will now have strong tools to decipher the realty market in a much better way”, said Guruprasad Bangle, Co-Founder, Properji.
Speaking about Magicbricks.com strategy on Acquihire, Karan Primlani, Head – Alliances, said:
“We remain interested in start-ups which have built interesting, scalable propositions around users or clients, or even in the technology space. Deploying a winning idea, on a large-scale platform like Magicbricks, makes for a winning proposition”
Magicbricks.com continues to be the dominant player in the online real estate category. To maintain its leadership position in the market, Magicbricks.com has announced a slew of strategic measures in the past few months. This includes the launch of new sections on the portal such as Travel Time Search, Advice, Map Search, Insider Club, Auctions and India’s First Real Estate and Property Business TV channel - Magicbricks NOW have all helped Magicbricks.com maintain a clear lead in its category.
About Magicbricks.com
The portal provides a common platform for property buyers and sellers to locate properties of interest in India, and source information about all property-related issues.
