PropertyGuru Closes S$5 million Financing
New credit line boosts expansion plans
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Singapore, 18 May 2011, Wednesday — Asia's leading online property portal group, PropertyGuru, has closed a S$5 million line of credit from a large Singaporean investment management group to accelerate its expansion plans. This new financing enables the Company to draw down additional funding at short notice if and when required, at extremely favourable market terms.
Steve Melhuish, Group CEO, said, "The Company’s performance has completely exceeded expectations over the last 12 months - tripling revenues, doubling traffic and expanding our presence to seven Asian countries. This financing scheme is a strong endorsement from our investors and gives us the ability to further accelerate growth, and strengthen our position as Asia's leading property portal group. We have ambitious plans this year and will be announcing some exciting new initiatives shortly which will add to our growth trajectory."
This is the first financing since the Company’s series A VC funding almost 3 years ago. It gives PropertyGuru an additional pool of low cost capital with the ability to draw and repay funds at short notice, if needed.
Over the last 12 months, PropertyGuru has expanded rapidly from a market leading presence solely in Singapore to seven countries - organically, inorganically and via partners. At the same time, its paying agent subscriber base has increased by 85% to 13,000 and traffic has more than doubled to approximately 4 million users viewing 48 million pages every month.
In addition, the latest statistics from independent online research firm Hitwise, show PropertyGuru with over 47% market share of all Singapore property related page views compared to 5.5% from its nearest competitor. At the same time, it has grown to become one of the top 3 local websites in Singapore, according to Alexa.com.
The Company recently overhauled and relaunched its flagship Singapore website www.PropertyGuru.com.sg, the first time in 2.5 years, and released its latest nationwide quarterly property sentiment survey results for Singapore and Malaysia which were widely covered by the print, TV and radio media.
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Media Contact:
PropertyGuru International (Malaysia) Sdn. Bhd.
Ms. Winnie Khoo, Chief Marketing Officer
Tel: +65 6238 5971
Email: winnie@propertyguru.com.sg
About PropertyGuru International (Malaysia) Sdn. Bhd.:
PropertyGuru Pte. Ltd. is Asia’s leading property portal group with a presence in seven countries (directly and via partners). Almost 4 million users view 48 million property pages on the Company’s websites across South East Asia. The Company’s revenues tripled in 2010, traffic doubled and agent subscriptions grew 85%.
PropertyGuru Group was founded in 2006 by two successful entrepreneurs in Singapore and is best known for running www.PropertyGuru.com.sg, Singapore’s leading property site (sources: Hitwise, Alexa and Google). It also runs www.CommercialGuru.com.sg; Singapore’s only dedicated commercial and industrial property portal, as well as www.LoanGuru.com.sg, an online mortgage brokerage with access to over 300 mortgage deals from 23 major local and international banks.
The Company has picked up a number of industry and government awards over the last 3 years including “CNBC World’s Best Property Portal 2009”, “Google Singapore Top 10 Fastest Rising Search Term 2009”, Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”, Singapore Venture Capital & Private Equity Association (SVCA) award for “Best Performing VC Backed Company 2010” and voted “Top Digital Media of the Year 2010” by Marketing Magazine.
For 2011, the company has set its sights on expanding into neighbouring countries. It has entered into a joint venture with Redberry, one of Malaysia’s top media companies, to accelerate its expansion into Malaysia and launched HomeGuru.com.my, a website to help users find available properties for sale and rent in Malaysia. It has also acquired FullHouse Media Sdn Bhd, owners of leading North Malaysian property portal, FullHouse.com.my and Rumah.com, Indonesia's top property website, with over 500,000 visitors viewing eight million impressions every month.
PropertyGuru Group is now operating across 7 countries (Singapore, Malaysia, Indonesia, Hong Kong, India, Australia and Macau) via new operations, acquisitions and strategic partnerships.
Asia’s Leading Property Portal Group includes:
www.PropertyGuru.com.sg is used by over 1.9 million consumers who view 29 million pages, generating approximately 150,000 leads for advertisers every month. The site provides real-time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and the largest online property database in Singapore and works closely with prominent real estate developers, housing agents and home-related firms in Singapore and overseas.
www.CommercialGuru.com.sg was launched in August 2010 and is used by 140,000 business users browsing 1.6 million pages and generating approximately 50,000 leads for advertisers every month. It is Singapore’s only independent, dedicated commercial and industrial property portal.
www.LoanGuru.com.sg was launched in January 2010 as an independent online mortgage brokerage providing real-time access to over 300 mortgage packages from 23 major local and international banks. It processes approximately $40 million of mortgage applications monthly.
www.HomeGuru.com.my is a Malaysian property portal set up as part of a joint venture between PropertyGuru Pte. Ltd. and Malaysia’s RedBerry. It provides consumers a platform to identify available properties for purchase, sale, rental or investment and a direct channel to search for and contact agents. Designed with the end-user in mind, it features real-time access to multi-media rich content, covering property and home-related products, services, news, advice, guides, tools and a rapidly growing online property database in Malaysia. It works closely with prominent real estate developers, housing agents and home-related firms in Malaysia and overseas.
www.FullHouse.com.my was established in 2005 for Malaysians to efficiently and conveniently search for properties on the Internet. It has grown in popularity, attracting over 160,000 visitors and viewing more than 1.2 million page views every month to become one of Malaysia’s top property portals. With hundreds of housing projects and more than 80,000 property listings to date, Fullhouse.com.my is the preferred online marketing channel for major real estate players. It constantly explores ways to serve customers through innovative and effective strategies. The company’s objective is to enhance the experience of finding a new home and leading the industry into a new era of real estate marketing.
www.Rumah.com was founded in 2007 and is Indonesia's top property website with approximately 500,000 visitors viewing 8 million page views every month. Over 120,000 properties for sale and rent in Indonesia and the website have a database of 11,000 opted-in members. Rumah.com is an online media campaign that provides the ideal search experience for all types of property: residential, commercial and industrial. Rumah.com allows sellers and renters to place on its site property advertisements which can be easily viewed by prospective buyers, who can search for property based on location and / or price.
For recent news, please visit www.propertyguru.com.sg/customer-service/press-releases. For more information, visit www.PropertyGuru.com.sg, www.CommercialGuru.com.sg, www.LoanGuru.com.sg, www.HomeGuru.com.my, www.FullHouse.com.my or www.Rumah.com.
Steve Melhuish, Group CEO, said, "The Company’s performance has completely exceeded expectations over the last 12 months - tripling revenues, doubling traffic and expanding our presence to seven Asian countries. This financing scheme is a strong endorsement from our investors and gives us the ability to further accelerate growth, and strengthen our position as Asia's leading property portal group. We have ambitious plans this year and will be announcing some exciting new initiatives shortly which will add to our growth trajectory."
This is the first financing since the Company’s series A VC funding almost 3 years ago. It gives PropertyGuru an additional pool of low cost capital with the ability to draw and repay funds at short notice, if needed.
Over the last 12 months, PropertyGuru has expanded rapidly from a market leading presence solely in Singapore to seven countries - organically, inorganically and via partners. At the same time, its paying agent subscriber base has increased by 85% to 13,000 and traffic has more than doubled to approximately 4 million users viewing 48 million pages every month.
In addition, the latest statistics from independent online research firm Hitwise, show PropertyGuru with over 47% market share of all Singapore property related page views compared to 5.5% from its nearest competitor. At the same time, it has grown to become one of the top 3 local websites in Singapore, according to Alexa.com.
The Company recently overhauled and relaunched its flagship Singapore website www.PropertyGuru.com.sg, the first time in 2.5 years, and released its latest nationwide quarterly property sentiment survey results for Singapore and Malaysia which were widely covered by the print, TV and radio media.
— END —
Media Contact:
PropertyGuru International (Malaysia) Sdn. Bhd.
Ms. Winnie Khoo, Chief Marketing Officer
Tel: +65 6238 5971
Email: winnie@propertyguru.com.sg
About PropertyGuru International (Malaysia) Sdn. Bhd.:
PropertyGuru Pte. Ltd. is Asia’s leading property portal group with a presence in seven countries (directly and via partners). Almost 4 million users view 48 million property pages on the Company’s websites across South East Asia. The Company’s revenues tripled in 2010, traffic doubled and agent subscriptions grew 85%.
PropertyGuru Group was founded in 2006 by two successful entrepreneurs in Singapore and is best known for running www.PropertyGuru.com.sg, Singapore’s leading property site (sources: Hitwise, Alexa and Google). It also runs www.CommercialGuru.com.sg; Singapore’s only dedicated commercial and industrial property portal, as well as www.LoanGuru.com.sg, an online mortgage brokerage with access to over 300 mortgage deals from 23 major local and international banks.
The Company has picked up a number of industry and government awards over the last 3 years including “CNBC World’s Best Property Portal 2009”, “Google Singapore Top 10 Fastest Rising Search Term 2009”, Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”, Singapore Venture Capital & Private Equity Association (SVCA) award for “Best Performing VC Backed Company 2010” and voted “Top Digital Media of the Year 2010” by Marketing Magazine.
For 2011, the company has set its sights on expanding into neighbouring countries. It has entered into a joint venture with Redberry, one of Malaysia’s top media companies, to accelerate its expansion into Malaysia and launched HomeGuru.com.my, a website to help users find available properties for sale and rent in Malaysia. It has also acquired FullHouse Media Sdn Bhd, owners of leading North Malaysian property portal, FullHouse.com.my and Rumah.com, Indonesia's top property website, with over 500,000 visitors viewing eight million impressions every month.
PropertyGuru Group is now operating across 7 countries (Singapore, Malaysia, Indonesia, Hong Kong, India, Australia and Macau) via new operations, acquisitions and strategic partnerships.
Asia’s Leading Property Portal Group includes:
www.PropertyGuru.com.sg is used by over 1.9 million consumers who view 29 million pages, generating approximately 150,000 leads for advertisers every month. The site provides real-time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and the largest online property database in Singapore and works closely with prominent real estate developers, housing agents and home-related firms in Singapore and overseas.
www.CommercialGuru.com.sg was launched in August 2010 and is used by 140,000 business users browsing 1.6 million pages and generating approximately 50,000 leads for advertisers every month. It is Singapore’s only independent, dedicated commercial and industrial property portal.
www.LoanGuru.com.sg was launched in January 2010 as an independent online mortgage brokerage providing real-time access to over 300 mortgage packages from 23 major local and international banks. It processes approximately $40 million of mortgage applications monthly.
www.HomeGuru.com.my is a Malaysian property portal set up as part of a joint venture between PropertyGuru Pte. Ltd. and Malaysia’s RedBerry. It provides consumers a platform to identify available properties for purchase, sale, rental or investment and a direct channel to search for and contact agents. Designed with the end-user in mind, it features real-time access to multi-media rich content, covering property and home-related products, services, news, advice, guides, tools and a rapidly growing online property database in Malaysia. It works closely with prominent real estate developers, housing agents and home-related firms in Malaysia and overseas.
www.FullHouse.com.my was established in 2005 for Malaysians to efficiently and conveniently search for properties on the Internet. It has grown in popularity, attracting over 160,000 visitors and viewing more than 1.2 million page views every month to become one of Malaysia’s top property portals. With hundreds of housing projects and more than 80,000 property listings to date, Fullhouse.com.my is the preferred online marketing channel for major real estate players. It constantly explores ways to serve customers through innovative and effective strategies. The company’s objective is to enhance the experience of finding a new home and leading the industry into a new era of real estate marketing.
www.Rumah.com was founded in 2007 and is Indonesia's top property website with approximately 500,000 visitors viewing 8 million page views every month. Over 120,000 properties for sale and rent in Indonesia and the website have a database of 11,000 opted-in members. Rumah.com is an online media campaign that provides the ideal search experience for all types of property: residential, commercial and industrial. Rumah.com allows sellers and renters to place on its site property advertisements which can be easily viewed by prospective buyers, who can search for property based on location and / or price.
For recent news, please visit www.propertyguru.com.sg/customer-service/press-releases. For more information, visit www.PropertyGuru.com.sg, www.CommercialGuru.com.sg, www.LoanGuru.com.sg, www.HomeGuru.com.my, www.FullHouse.com.my or www.Rumah.com.