Real estate advisory Square Yards has entered into agreement to merge itself with online property search portal Realizing.in. Based on the proposed equity swap for the merger, Square Yards will offer less than 5% of its equity for 100% of Realizing.in. The merger is aimed at scaling up end-to-end transactional abilities of the combined entity and increase Square Yards’ bandwidth to consolidate its market share in the real estate advisory space.
Gurgaon-based Realizing was founded by Rohit Raghav, Hitesh Kumar Singla, Vivek Agarwal in 2014. Realizing.in has created strong intellectual property and brought in some very unique innovations in the world of property portals like interactive city heat-maps, carpet area & built-up area calculations, need based recommendation engine, price to size scatter plot and property decision drivers – connectivity, livability, lifestyle, readiness, & value for money for a project or location based on automated & unbiased algorithms.
With this alliance, the entire team of Realizing.in will join Square Yards. Its founders Vivek Agarwal and Hitesh Singla with now be part of Square Yards’ executive committee as partners. The portal would be rechristened as Square Yards and the group will continue to build research under the Realizing.in brand. Post this merger, Square Yards’ employee count will increase to around 700 from 650 at present.
Square Yards’s CEO and Co-Founder, Tanuj Shori said, “With Square Yards already leading the transactional space having become leading pan India player in just 18 months since start up, pseudo monopoly in NRI markets, and having transacted USD350mn worth of real estate since start of its operations; the joining of Realizing team adds the much needed technology bandwidth to achieve larger scale.”
“We believe beyond complimentary skill sets across the value chain, it is the common vision and belief to lead end-to-end capabilities that brought us together. We were amazed by global execution capabilities of Square Yards and its growth story – the fact that they have become number one in such a short time and are clocking more revenues than any other online or organized offline player in India,” said Vivek Agarwal, co-founder of Realizing.in.