Housing.com acquires HB360

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mini_logoIn its third acquisition this year, property portal Housing.com acquired HomeBuy360, a cloud-based sales life cycle management platform that connects developers, agents and buyers.

The acquisition was worth, for $2 million, according to reports in the media.

“Developers are key stakeholders to drive efficiency in the Indian 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,” Housing.com iCEO and COO Rishabh Gupta said.

With this acquisition, Housing.com is now the only online real estate listing platform to own a developer CRM company.

Housing.com is consolidating its leadership position as a comprehensive online realty player and a game-changer strivingto bring positive change in the real estate industry through its consumer-centric products and solutions, Gupta added.

Rajat Kothari, Founder and CEO of HomeBuy360, said: “Indian real estate sector is witnessing tremendous growth and traction but it is still highly unorganised, posing significant challenges for the entire ecosystem. With less than 10 per cent of developers currently using CRM for their backend and customer connect operations, we have a huge market opportunity ahead of us. Housing.com’s strong developer network pan India will allow us to further scale our business nationally. “