Lamudi Indonesia’s office in Jakarta / Photo credit: Lamudi
Digital Classifieds Group (DCG), the parent company of proptech firm Lamudi, has appointed a “registered liquidator” and “administrator,” according to a document from the Australian Securities and Investments Commission.
The document said that DCG is in “external administration,” which means that it is “insolvent or in financial difficulty.”
It also revealed that the appointed liquidator is Daniel Peter Juratowitch, CEO of advisory and restructuring firm Cor Cordis.
Lamudi was founded in 2014 by Rocket Internet. It operates in Indonesia, the Philippines, and Mexico.
In October 2023, DCG acquired Lamudi’s businesses in Indonesia and the Philippines from Dubai’s Dubizzle Group. In July of the same year, the proptech firm laid off an unspecified number of employees in Indonesia.
Editing by Lorenzo Kyle Subido
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