From left to right: 99.co’s CEO and founder Darius Cheung, and co-founder and CEO of PropertyGuru Steve Melhuish
Steve Melhuish, co-founder and CEO of PropertyGuru, revealed onstage at Tech in Asia Singapore today that the online property portal is looking to IPO in 12 to 18 months from now. He took the stage alongside upstart competitor 99.co’s founder and CEO Darius Cheung.
The topic of going public was broached before by Melhuish back in 2013, but nothing has happened to date. He explains that PropertyGuru is ready to IPO right away, but are currently holding back as he feels that it is “not a good time to go to market.”
PropertyGuru is currently the market leader in three of four markets it is in, with 85 percent market share in Singapore. In the island-state alone, it sees 4.5 million visits and 60 million page views per month.
This is part of the coverage of Tech in Asia Singapore 2015, our event running on May 6 and 7.
Editing by Terence Lee
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