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99.co acquires iProperty.sg and Rumah123 portals to boost growth in SouthEast Asia

The acquisition will catapult 99.co to its target on market leadership.


99.co acquires iProperty.sg and Rumah123 portals to boost growth in SouthEast Asia | BEAMSTART News

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Singapore's fastest-growing property portal, 99.co has acquired both of REA group’s consumer brands: iProperty.sg and Indonesian Rumah123.com.

99.co has also gained an $8 million investment from REA through this acquisition, just a few weeks after its $15 million Series B funding.

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The 99.co mobile application

99.co co-founder and CEO, Darius Cheung, alongside his senior management team will run both acquired companies and their websites.

The property marketplace in Singapore is ready for disruption according to REA group.

“This [agreement] is a key milestone that positions us instantly as number one in Indonesia, and [puts us] well on our way to that in Singapore,” Cheung said.

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