Startups Money

NetAmbit acquires real estate portals atOnePlace.com and theBuyerPower.com

4 Feb, 2013

Financial services distribution company NetAmbit India has acquired real estate portals atOnePlace.com and theBuyerPower.com, both founded by Gunjan Garg. The deal value remains undisclosed.

Commenting on this deal, Girish Batra, CMD, NetAmbit said, "The acquisition of atOnePlace.com and theBuyerPower.com will help NetAmbit in expanding its internet-enabled model of real estate sales and help grow our property solution. We hope to redefine the online property services by establishing a new paradigm in transparency, product offerings and customer service."

atOnePlace is an online real estate marketplace where consumers can find information investment opportunities in the emerging real estate space. atOnePlace.com also offers different marketing solutions to property developers. Its sister concern, theBuyerPower, is an online group deals platform for real estate. The company currently has offices at the US and India.

"The synergies between the companies were endless. Our technology and platform will help NetAmbit build its lead in the Indian real estate industry as an end-to-end solutions provider of financial a nd investment products. The NetAmbit platform would help our customers with even better product range and customer service" said Garg, founder & CEO of atOnePlace.com & theBuyerPower.com, as per an official release.

Founded in 2000, NetAmbit engages in distribution of financial products for consumers via direct marketing. In 2007, the company raised first round of funding of Rs 10 crore from Bessemer and a second round worth Rs 50 crore in 2009 by Helion Ventures and Bessemer.

(Edited by Prem Udayabhanu)