News Corp picks up stake in Singapore’s Elara Tech


Media baron Rupert Murdoch’s News Corp has picked up 25% stake in Singapore’s Elara Technologies, the parent company of Noida-based online real estate marketing platform PropTiger.com for $30 million (about Rs 186 crore), valuing the company at $120 million or about Rs 744 crore.

In this round, the existing investors including SAIF Partners, Accel Partners and Horizen Ventures, are also putting another $7 million (Rs 43 crore) into the company, PropTiger.com said in a release.

This is the third round of fundraising for PropTiger.com since 2011, which has collected $44 million (about Rs 272 crore) so far from key investors including SoftBank.

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