- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readSources: PropertyGuru in talks with blank-check firm for $2b merger deal
“Bridgetown 2 Holdings, the blank-check company backed by billionaires Richard Li and Peter Thiel, is in advanced talks to merge with Singapore’s online real estate firm PropertyGuru,” Bloomberg reported, citing people familiar with the matter.
Details:
- The merger could be announced as early as next month, pegging the value of the combined firm at about US$2 billion.
- PropertyGuru CEO Hari Krishnan also told Bloomberg that the company is constantly on the lookout for opportunities to bankroll its growth.
Context:
- The development comes after PropertyGuru was reportedly considering a US listing by mergering with a special purpose acquisition company in March. The move would lift the proptech firm’s valuation to US$1 billion.
- In 2019, PropertyGuru canceled its US$260 million listing in Australia over “market uncertainty” concerns. The company’s revenue and valuation fell for the first time in 2020.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
