Housing gets a breather from Softbank

Softbank has agreed to invest 100 crore INR in fledging real estate startups a startup built by ex IIT grads was in news last year for forced exit of Rahul Yadav who was then CEO and firing of many employees. was in troubled waters for many months for not being able to get enough traction for its maps based real estate portal. SoftBank which hold majority stake in the company was trying to find a buyer for this startup.

Earlier this year there was a news of snapdeal trying to buy but noting was confirmed.

IndianCEO’s Opinion

This ample funding for a big startup like this mainly looks like survival money and company will eventually look for a buyer. Considering the fact the traction  on is not as anticipated the sell out will yield losses to all the investors unless company finds a miraculous growth strategy.

Similar startup in this arena commonfloor was acquired last week by Quikr.

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