Bhagya P
June 07, 2016: Housing.com plans to expand its buy-and-sell discovery platform offline and offer end-to-end fulfilment to a buyer in the next one year, chief executive officer Jason Kothari has said.
“Nowhere in the world have real estate transactions happening online. To collect brokerages, one needs to stitch the offline piece,” said Kothari. “We are already selling premium products to brokers and developers, including premium listing, risk content, brand products and customised marketing solutions.”
“(Next) we plan to build the offline piece, or acquire a company focused on that and own end-to-end fulfilment,” he said.
Housing has cut costs by two-thirds over the past eight months, sharpened its business focus and is on track to be profitable by end of 2017. Last week, the company had announced its plan to hit a $10-million revenue run rate by the end of the year according to Kothari.
“We have laid down the blueprint for the company and are on track to be profitable,” he said. Housing is also in talks to raise a new round of capital from strategic as well as financial investors by the end of the year, Kothari confirmed.