Early PropertyGuru Backer Emtek Divests

October 8, 2020
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According to reports from South East Asia, leading media company Emtek divested its shares in ProeprtyGuru when the portal company raised 300 million Singapore dollars back in September. Emtek had held shares in PropertyGuru from almost the beginning of the portal company’s journey and according to filings with the Singapore authorities, sold its shares to venture firm TPG during September’s funding round along with other investors including Kreatif Media Karya (KMK), Square Peg Capital, Vulpes Testudo Fund.

Confirming the change in investor portfolio a PropertyGuru spokesperson said: “Our long-term investor Emtek has realized their investment and sold their entire stake in the business. Square Peg is no longer on the board, but continues to be invested in the business”

It has also been confirmed that that Square Peg co-founder Paul Bassat and partner Tushar Roy have stepped down as directors of PropertyGuru’s board.

October 8, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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