India's real estate advisory Square Yards has announced its merger with India's realizing.in. The merger is primarily a stock swap deal valuing Realizing iat approximately USD 5M. The Realizing.in team will join Square Yards, with its founders, Vivek Agarwal and Hitesh Singla, joining Square Yards executive committee as partners.
The Realizing.in portal would be rebranded as Square Yards and the group will continue to build research and knowledge capital capabilities under Realizing brand to ultimately evolve it into a Big Data Analytics platform for global real estate.
Realizing.in has created strong intellectual property and brought in some very unique innovations in the world of property portals like interactive city heat-maps, carpet area & built-up area calculations, need based recommendation engine, price to size scatter plot and property decision drivers - connectivity, livability, lifestyle, readiness, & value for money for a project or location based on automated & unbiased algorithms.
With its latest fund raising and technology ramp up, Square Yards has attained full stack capabilities with a Digital + Services business model competing with the likes of proptiger.com, housing.com amongst others.
Talking about the merger, Square Yards's CEO and co founder, Tanuj Shori said "We are very excited to bring in the expertise of Realizing.in team to merge with the strong execution capability of Square Yards. With Square Yards already leading the transactional space having become leading pan India player in just 18 months since start up, pseudo monopoly in NRI markets, and having transacted USD350mn worth of real estate since start of its operations; the joining of Realizing team adds the much needed technology bandwidth to achieve larger scale.
"We believe they have built an excellent product and in a combined ecosystem, their innovation and product skills could be used to significantly scale up end to end transactional abilities. More than the product, we are glad to be working with Vivek and Hitesh, who would bring tremendous management expertise and bandwidth for Square Yards to consolidate its market share in the real estate advisory space. To add, in a bid to build global project portfolio capabilities, We would continue to look for interesting opportunities in regions like Asia Pacific and Middle East to further augment our global product offerings."
Vivek Agarwal, CEO & co founder, Realizing.in commented "We believe beyond complimentary skill sets across the value chain, it is the common vision and belief to lead end to end capabilities that brought us together. We were amazed by global execution capabilities of Square Yards and its growth story – the fact that they have become number one in such a short time and are clocking more revenues than any other online or organized offline player in India."
Hitesh Singla, COO & co founder, Realizing.in adds "This opportunity brings best of both minds in the sector together. Square Yards and Realizing.in can provide much needed structure and bring greater information transparency to transform the RE market in a way that it works for most important stakeholder - the consumer."