05 Apr '13, 4am

PropertyGuru CEO, now a millionaire, mulls IPO

PropertyGuru CEO, now a millionaire, mulls IPO April 5, 2013 by Terence LEE These are exciting times for Singapore’s startup ecosystem. Following big exits by sgCarMart and DS3 this week, PropertyGuru has the potential to end up as the country’s biggest post Dot-Com success story. Speaking on stage at the Startup Asia tech startup conference in Singapore, PropertyGuru CEO Steve Melhuish gave the audience an update of where the company’s at since receiving USD 48M in funding from Europe property group ImmobilienScout24. Steve revealed that part of the investment from ImmobilienScout24 went back to investors and shareholders, generating 24x returns. About SGD 22M (USD 17M) was plowed into the company prior to this latest round. Effectively, this would make Steve a millionaire, although he quickly added that two-thirds of his own investments is still in the business, and that...

Full article: http://sgentrepreneurs.com/2013/04/05/propertyguru-ceo-no...

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