I
iProperty Group
Asia's No. 1 online property group
About iProperty Group
iProperty Group operates as a prominent online real estate advertising platform, connecting property seekers with agents and developers across Southeast Asia. The firm was established by serial entrepreneur Patrick Grove, alongside Murli Ramkrishnan and Joshua Wong. Grove, a chartered accountant who began his career at Arthur Andersen, co-founded the internet company Catcha.com in 1999 before restructuring it into Catcha Group. In 2006, Grove founded iProperty Group, which went public on the Australian stock exchange the following year, marking a significant milestone in his entrepreneurial journey.
The company's primary business is providing an online listing platform where users can search for a wide array of residential and commercial properties to buy or rent, including apartments, condominiums, bungalows, and commercial buildings. Its client base consists mainly of real estate agents and property developers who subscribe to its services to advertise their listings. The business model is centered on providing advertising solutions and generating revenue through these subscriptions. Agents can purchase various packages that offer different levels of visibility for their listings, such as featured or premium placements, paid for with a credit system. Additional revenue streams include partnerships and the publication of an iProperty magazine.
A landmark event in the company's history was its acquisition by REA Group, a digital media business specializing in property. REA Group first acquired a stake in 2014, increased it in 2015, and completed the full acquisition in February 2016 in a deal that valued iProperty Group at approximately AUD $750.8 million. This move was one of the largest internet-related exits in the ASEAN region at the time. Following the acquisition, iProperty continued to operate under its own brand. In 2021, as part of a strategic consolidation, REA Group's Malaysian and Thai entities, including iProperty.com.my, were acquired by PropertyGuru, with REA Group becoming a strategic shareholder in the combined, larger entity.
Source: Dealroom company dataAt a glance
- Status
- Acquired
- Founded
- 2007
- Headquarters
- Kuala Lumpur, Malaysia
- Open positions
- None listed
- Dealroom signal
- 24.7/100
- Industry
- Real Estate, Telecom
- Sub-industry
- Search, Buy & Rent
- Sector
- eCommerce & Marketplaces, Classifieds
- Business model
- Marketplace & ecommerce
- Client focus
- b2c
- Investment activity
- 5 companies
- Capital deployed
- —
- Preferred round
- Unknown
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| ACQUISITION✓Exit | Aug 2021 | $0 | — | PropertyGuru | — |
| ACQUISITION✓Exit | Feb 2016 | $427M | $555M | REA Group | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for iProperty Group is 1.6M monthly website visits, down 15.8% over the last three months.
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
SquarefootoperationalHong Kong Apartments, Homes, Real Estate for Sale and Rent
→
CommercialAsiaSingapore, SingaporeCommercial & industrial property classifieds portal in Asia
→
GoHome.com.hkHong KongHong Kong's No. 1 property multimedia platform
→
Rumah123IndonesiaReal estate classifieds in Indonesia.
→
ThinkofLivingThailandReal estate classifieds in Thailand
→
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series A1 investor entered at this stage
Series B and later2 investors entered at this stage
SeLoger
REA Group
Other known investors2 additional known investors
PropertyGuru
Catcha Group
Source: Dealroom Talent Intelligence.
Global footprint
Market sentiment
An AI-synthesised read of the highest-engagement posts about iProperty Group on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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