Street Talk understands PropertyGuru - a Singaporean company backed by private equity bigwigs TPG Capital and KKR & Co - has taken pitches from a handful of investment banks in recent weeks, who were asked to respond to a formal request for proposal.
PropertyGuru wants to know what bankers reckon about its prospects for an Australian initial public offering, which investors would be interested in buying stock and, ultimately, what the company could be worth.
While PropertyGuru's operations are offshore, Australia has a strong history of supporting such online listings business including in the real estate sector.
The pin-up is market darling REA Group, which has grown from a ASX-newbie worth $29.5 million in 1999 to be a $11.6 billion giant now trading at 30-times profit and 11.6-times revenue.
Similarly Domain Holdings, part owned by The Australian Financial Review's publisher Nine Entertainment Co, is a $1.85 billion company trading at 37-times profit and 5.1-times revenue.
A TPG-led consortium bought PropertyGuru for about $US100 million ($145 million) in 2015, and set out to grow the company.
Read more here
Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.
Realtor.com has reported strong growth in traffic, engagement, and search visibility on a new blog post, citing recent data from...
Read More
The British business-focussed newspaper, City AM has claimed that the UK's number two portal Zoopla has been put up for...
Read More
CoStar Group has reported strong Q1 2025 results, with the U.S.-based real estate data and marketplaces giant posting $732 million...
Read More
PropHero, the AI-powered CRM platform that helps property buyers find investment opportunities, has confirmed changes to its Australian operations just...
Read More
