PropertyGuru’s boot-strapped path to success
PropertyGuru, South-East Asia’s main property portal, concerned in region’s biggest ever online funding deal But it turned into all about boot-strapping past early challenges and competition that regarded out of nowhere IN June, Deutsche Telekom subsidiary ImmobilienScout24, one of the pinnacle on line assets portals in Europe, invested S$60 million (approximately US$forty seven million at the time) in PropertyGuru, South-East Asia’s No 1 belongings portal. It turned into perhaps the largest on line deal within the place, and a vindication of all that familiar wisdom of the begin-up scene, truisms that many technopreneurs seem to clearly forget about: Identify the marketplace opportunity, build a business plan, get a solid partner and right team, gird your self for opposition – and be prepared to paintings your butt off for some time. The tale of PropertyGuru began in 2006 while Steve Melhuish and Jani Rautiainen registered AllProperty Media Pte Ltd in Singapore, though it be...