PropTiger Acquires OoBI digital design startup for an undisclosed amount. Singapore based Elara Technologies Pte Ltd, which runs and operates real estate search portal PropTiger.com. The company was founded in 2011 by alumni of Harvard Business School Dhruv Agarwala and Kartik Verma along with Prashan Agarwal, an ISB Hyderabad alumnus. The trio sold 25 per cent stake to News Corp for $30 million.
On the other hand OoBI Media Solutions P Ltd operates digital interaction design startup under the Out of Box Interaction (OoBI) brand. The company founded by Kumar Ahir and Atish Patel both are from Indian Institute of Technology, Bombay. The company is creative startup revolutionising the way people interact with digital content.
OoBI has specialised in development of interaction design for NUI and GUI (Graphic based User Interfaces). Apart from these they develop interaction design, interactive installation, innovative product display, User research, interactive technologies, and multi touch table.
OoBI has developed a new product RealiT that allows developers and builders to showcase their projects in an immersive way at a finger tip. The product combines natural interaction through multi touch in hardware and business analytics and intelligence in software.
The company has developed and provided products and solutions for more than 42 top real estate developers in India, which in turn helped to sell 270 projects across the country. Top real estate developers like Brigade Group, Mantri Developers, Puravankara, RMZ Group and Sobha Developers are few of the clientele.
For PropTiger.com it is one of the better acquisitions seeing the product portfolio of OoBI. For an online real estate and property portal it will be icing on the cake because companies like PropTiger.com does not require investing on the advertising media and can easily integrate the real estate developers into their fold.
In recent times, real estate portals are making headlines either through acquisitions, funding or negative publicity.