Softbank has agreed to invest 100 crore INR in fledging real estate startups housing.com. Housing.com a startup built by ex IIT grads was in news last year for forced exit of Rahul Yadav who was then CEO and firing of many employees.
Housing.com was in troubled waters for many months for not being able to get enough traction for its maps based real estate portal. SoftBank which hold majority stake in the company was trying to find a buyer for this startup.
Earlier this year there was a news of snapdeal trying to buy housing.com but noting was confirmed.
This ample funding for a big startup like this mainly looks like survival money and company will eventually look for a buyer. Considering the fact the traction on housing.com is not as anticipated the sell out will yield losses to all the investors unless company finds a miraculous growth strategy.
Similar startup in this arena commonfloor was acquired last week by Quikr.