Housing.Com to achieve $10 million revenue FY16
Housing.Com, which has raised over USD 100 million from various investors including Softbank and has restructured the business, today said it expects USD 10 million revenue in the current fiscal.
Last November, it had decided to monetise its products as part of the restructuring exercise.
"Housing.Com is receiving an overwhelming response to the products it launched in January with revenue growing 200 per cent month-on-month and the company on track to achieve $10 million in revenue this fiscal year," it said in a statement.
After the company decided to focus its business on home buying and selling, Housing.Com said it has started a series of digital advertising products for developers and brokers to provide maximum customer exposure and return on investment for their home sales efforts.
In addition, it is offering customised digital marketing services to large developers to drive home sales and build developer brand equity.
Housing.Com CEO Jason Kothari said the company is confident (rpt) confident about revenue position in the future.
The company has 11,000 developers and 18,000 brokers active on its platform, "so there is large monetization growth and upside that can be derived from just the existing customer base".
Founded in 2012, Housing.Com is leading online real estate platform with 1.7 million verified homes listed to date.