VC-backed PropertyGuru buys Indonesia's RumahDijual

Indonesia is PropertyGuru's second biggest market in terms of web traffic; it currently operates in the country under the brand Rumah.com. The purchase of RumahDijual means that 43% of all time spent on property portals in the country is spent on PropertyGuru-owned sites, according to a release.

This is PropertyGuru's second acquisition in Southeast Asia this year, following its purchase of sales and marketing platform ePropertyTrack in July. The company earlier raised S$175 million ($129 million) from TPG, Square Peg and Emtek. Emtek, Indonesia's second-biggest media group, was already a partner of PropertyGuru in Indonesia and a promoter of Rumah.com.

"Indonesia is strategically important for PropertyGuru because it is the largest, and one of the fastest growing, property and digital markets in Southeast Asia," said PropertyGuru CEO and co-founder Steve Melhuish. "This latest acquisition is a further testament to our long term commitment to the Indonesian property market."

PropertyGuru has grown its online traffic 28% per annum through its website and mobile apps since its founding in 2006. It operates in Singapore, Malaysia, Indonesia and Thailand, and claims to lead the market in all except Malaysia. The company is planning an IPO within a year.

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