I know Housing.com is an old-buzzed startup to write about. But considering it to be case study as Rahul Yadav, the founder of the same, has been in controversies, I find the story of Housing.com to be really interesting in all ways.
In 2015, Housing.com came into lights due to the bitter conflicts and word war between Rahul Yada, ex-CEO, Housing and Shailendra Sing, Managing Director, Sequoia India.
The company is supported by Japan’s Softbank, which has a 38 percent stake in Housing, Nexus and Helion. Softbank recently pumped $5 million into the startup even as merger talks with common rivals continue to hit the news.
The venture was the sperm of the minds of a group of 12 IITians back in June 2012. Some left the venture after giving their best and currently there are 8 founders who are serving the daily needs of the people hunting for home.
The group including, Rahul Yadav from IIT Bombay started searching for a house in Powai after they graduated from the campus. Powai is a sub-urb in Mumbai where the campus is located.
Months passed, and they were literally on road searching for that one perfect home. Real estate agents, as we all know, promised some other property and let them visit some others.
The problems with these kind of agents let them pump their idea into reality. However, there were online classified ads available on the internet but they all landed to real estate agents somehow.
The Mumbai based real estate search portal Housing allows customers to search for housing based on geography, number of rooms, and various other filters. The company grabbed 6,000 brokers and serves 40 cities in India including Mumbai, Bangalore, Kolkata and Delhi.
Housing.com has raised four rounds of funding since its founding in 2012. In June 2013, they raised another $2.5 million followed by an unannounced raise of funds valued $3 million from Nexus Venture Partners.
The company used the funds to create its Data Science Lab and to expand to cities like Chennai, Delhi, Noida, Ghaziabad, Hyderabad and Faridabad with a strong staffing of 700 employees and a 1 lac per day unique user base.
Housing managed to get two rounds of funding, out of which one was worth INR 1.5 crores from Haresh Chawla, the former CEO, Network18 in February and the other one was worth INR 50 Lakhs from Zishaan Hayath, the co-founder of Chaupati Bazaar in March 2013.
Currently, the company’s revenue model is subscription based where landlords, agents, developers, land owners buy display on the site. After that, the company’s data collectors physically verify the property, clicks pictures before putting them up on the portal.
There are bi-annual and annual subscriptions. They charge INR 5,000 for its 6 months subscription pack and INR 8,000 for an annual subscription.
Housing.com mission is to help millions of people struggling for months trying to find real estate that meets their requirements. Today, they have over eight lakhs verified listings across 50 cities and over the next few quarters, they will expand to 300 cities and map approx. 40 million houses in India.