lamudi

Digital Classifieds Group is in “external administration,” which means that it is “insolvent or in financial difficulty.”

Lamudi’s network includes 500 property developers and 30,000 agents across Indonesia.

Firms like Lamudi and Rukita have raised funds and claimed profitability, but PropertyGuru notably exited the market in 2023.

With the deal, Digital Classifieds Group takes over Lamudi’s properties from Dubai’s Dubizzle Group, which acquired the proptech portal in 2020.

The company carried out the restructuring to “maximize growth and improve business efficiency.”

We analyze the funding rounds of Indonesia’s aquaculture leader and an Israel-based biotech firm decoding the body’s immune responses.

After the deal, Lamudi Indonesia’s classifieds platforms will get 4.5 million monthly unique visits and 600,000 new property listings every month.

Many leading players are subsidiaries of larger regional companies, but a number of homegrown startups are coming up.

LankaPropertyWeb plans to expand its reach and property portfolio via the acquisition.

The real estate portal will use the funding to expand its coverage to other aspects of property transactions.