People Roundup: PropertyGuru, REA India, Zillow

This week's People Roundup starts in Singapore, where nearly 200 people have lost their jobs at PropertyGuru...

Asia: PropertyGuru lays off 174 people after privatisation

PropertyGuru has announced that 174 employees will lose their jobs, representing more than 10% of its workforce.

The affected roles are driven by the discontinuation of multiple business segments including Sendhelper, Data & Software Solutions, and PropertyGuru Finance.

The company will also phase out its Corporate Development and Investor Relations as a result of PropertyGuru's privatisation after EQT's takeover of the business last year.

Other reorganisation will include changes for the company's Technology, Marketing, Finance, and People & Culture teams.

Trevor Mather, executive chairman at PropertyGuru, said:

"This was a difficult decision, made after deep consideration of what’s necessary for our long-term growth and success.

"These decisions were not made lightly. They reflect our commitment to building a more focused, agile, and effective organisation. With Lewis [Ng] joining us as CEO in March, I’m confident we will be well-positioned to seize all opportunities."

REA India hires new Group CTO

REA India, a subsidiary of the REA Group comprising Housing.com and PropTiger, has appointed Abhishek Makkar as Chief Technology Officer (CTO).

Makkar's CV includes seven years at Expedia India and four years at Amazon as a software development manager.

Makkar said:

"The real estate industry is ripe for technological transformation, and both Housing.com & PropTiger.com are uniquely positioned to lead this change. My experience in scaling technology and driving digital innovation aligns perfectly with the group’s mission to revolutionize the real estate sector."

Dhruv Agarwala, CEO at REA India, said:

"We welcome Abhishek to our leadership team. His proven track record in scaling technology operations and driving innovation aligns perfectly with our vision for the future. Abhishek’s expertise will be instrumental in advancing our platform capabilities and extending our technology leadership."

REA India also includes the Makaan brand, but this marketplace has been sunsetted in favour of Housing.com.

United States: Zillow promotes more executives for its Rentals and Agent Software segments

Zillow has promoted Michael Sherman to Senior Vice President (SVP) of Rentals, and Cynthia Taylor to SVP of Agent Software and Advertising—both internal promotions.

Zillow appears to be structuring its new leadership team according to the wishes of new CEO Jeremy Wacksman, following last month's appointment of Zuhairah Washington as the Group's new SVP of Market Operations and general manager for Zillow's Flex program.

The appointment of Sherman as SVP for Rentals is particularly noteworthy given Zillow's aggressive pursuit of residential rentals in the United States—a $100 million gamble that the company says is a "billion-dollar revenue opportunity".

Zillow Rentals segment accounted for 20% of total revenue in 2024—but the company believes this number could be closer to 50% with a stronger strategic focus.