Australia

1 million listings for PropertyGuru

PropertyGuru has reported a doubling of listings on all its sites to reach the 1 million mark. The Singapore-based online property portal group also says it has crossed the 30,000 mark for the number of real estate agents advertising on its websites. PropertyGuru runs portals in Singapore, Malaysia, Thailand (where it’s DDProperty.com) and Indonesia (Rumah.com). In a statement,...

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Catcha sells down stake in iProperty

Patrick Grove’s Catcha Group has sold down almost 25 percent, or 10,000,000, of its shares in iProperty at $2.63 per share. The announcement was made in an ASX listing dated October 16. Catcha’s Kuala Lumpur-based Rev Asia earlier sold its 27.2 percent stake in iCar Asia. (Read our coverage of that here) Catcha Group runs ASX-listed Southeast Asia and Hong Kong eCommerce business iBuy...

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What’s Patrick Grove up to? Catcha offloading iCar Asia, iProperty

Patrick Grove’s Kuala Lumpur-based Rev Asia (formerly Catcha Media) yesterday received shareholder approval to sell its 27.2 percent stake in iCar Asia and, according to Australian press, his Catcha Group is also looking to offload its shares in iProperty. (Read Australia’s Property Observer’s article here.) Rev Asia had announced its intentions to sell its stake in iCar Asia...

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REA sells HK business to iProperty, strengthens shareholder grip

REA Group has sold its Hong Kong business to iProperty Group, in a deal worth AUD$15 million (US$13.5 million). The sale is subject to iProperty shareholder approval. iProperty will operate REA’s squarefoot.com.hk and its own GoHome.com.hk. Squarefoot also has a printed property magazine that iProperty will take over from REA. REA’s stake in iProperty of 17.2 percent, which it bought...

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New Australian startup for “good quality” local services

A Melbourne startup has launched a marketplace for “good quality” local services to create their own eCommerce platforms. ServiceLocale.com is currently in beta and has 25 businesses operating, it told StartupSmart.com.au. ServiceLocale co-founder Shiraj De Silva told StartupSmart.com.au that payments for services are still made in cash but that “once the site gets more traction” PayPal...

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Onthehouse CEO resigns in controversy

m4s0n501 Michael Fredericks, founder, CEO and managing director of Australia’s Onthehouse, has resigned. Fredericks’ resignation follows his involvement in a legal battle against one of Onthehouse’s original investors, Phil Heraghty, that was completed on Sept. 23. In an announcement dated Oct. 1, Onthehouse stated the “private civil legal case had no impact on the financial performance...

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