PropertyGuru operates digital property classifieds marketplaces in five countries across Southeast Asia – Singapore, Vietnam, Malaysia, Thailand and Indonesia (collectively called our “Core Markets”) and is the preferred destination of over 23 million property seekers to find their dream home, every month. The Group has 60% consumer market share across its Core Markets, which is significantly greater than that of its nearest competitor.
Over the past twelve years, the Group has grown from a single-market start-up to a diversified PropTech company with a robust portfolio of products. This includes online real estate classifieds marketplaces in five countries serving the primary (developer) and secondary sales markets; one of the largest property awards business in the region the ‘PropertyGuru Asia Property Awards’, which sources entries from fourteen markets across Asia; and a SaaS-based sales automation solution, ‘PropertyGuru FastKey’, which is used by property developers to enable end-to-end project management from launch to sales conversion.
Chairman, Olivier Lim said, “The market opportunity for online property advertising in our Core Markets is underpinned by a number of key macroeconomic and other trends. These include strong population growth, urbanisation, increasing penetration of the internet within the population, increased access to mobile phones, and in particular smartphone penetration, as well as rising wealth levels which has seen the expansion of the middle classes – a key driver of housing demand."
"Online property advertising on our digital platforms offers Agents and Developers more cost effective solutions than traditional print channels and allows them to target a broader audience. We expect these trends to shift property advertising away from print and other offline channels in our Core Markets to online, as property seekers increasingly use digital channels to conduct their property searches.
"Our leadership across our Core Markets is a product of our established local relationships with Agents and Developers, as well as our significant investment in the PropertyGuru technology platform, and our brand. We have strategically invested to develop proprietary scalable technology platforms with market leading features and functionality, including using artificial intelligence and augmented reality, which has enabled us to develop a differentiated digital offering. This investment and innovation are made possible by our experienced management team and our culture of innovation. The team is headed by our Chief Executive Officer, Hari V Krishnan, who has two decades of senior executive experience in leading technology firms in Asia and the United States.”
Chief Executive Officer, Hari V Krishnan said: “We have established a strong market position in the Southeast Asian property ecosystem. Much of our success is the result of our strategic significant investment in technology. We have invested heavily to build what is today an integrated and differentiated technology platform, which caters to the opportunities in our Core Markets."
"Our company was founded with the goal of bringing access and transparency to the real estate sector and we have achieved this goal through the continual evolution of our technology and digital solutions. Through immersive content and proprietary technology, we aim to provide our Property Seekers, Agent and Developer customers with the right insights exactly when they need them. Digital innovation is in our DNA and we plan to continue investments in technology with the objective of creating solutions that benefit all our audiences.
"PropertyGuru’s pro forma revenue has grown at a 26% compound annual growth rate over the last three years. 2018 also marked the first year PropertyGuru became both EBITDA and free cash flow positive. I am especially proud to lead the PropertyGuru management team – one filled with seasoned digital natives – and excited to be working with this dynamic team of people, who have extensive experience building technology businesses across Asia. Our team of "Gurus" at the company has driven the transformation from start-up to the high-growth PropTech company it is today.
"We intend to use part of the proceeds from the offering to pursue our growth strategy, which includes the potential expansion into a number of direct adjacencies, including providing Property Seekers in our Core Markets with convenient access to mortgage financing through an online mortgage marketplace and developing data offerings to our customers.”
The PropertyGuru Board of Directors comprises Independent and Non-Executive Chairman, Olivier Lim; Independent and Non-Executive Directors Jenny Macdonald and Melanie Wilson; Chief Executive Officer and Managing Director, Hari V Krishnan, Co-Founder and Executive Director, Steve Melhuish and Non- Executive Directors Dominic Picone, Terence Lee, and Paul Bassat.
Australian legal advice is being provided by Gilbert & Tobin and Singaporean legal advice by Allen & Gledhill LLP.
A prospectus (Prospectus) has been lodged with the Australian Securities and Investments Commission on 7 October 2019 by PropertyGuru and Jeroboan Pte. Ltd. (ARBN 636 026 161) in respect of an offer of CHESS Depositary Interests over ordinary shares of PropertyGuru. If you are in Australia, you may access the Prospectus from PropertyGuru’s offer website (http://www.propertyguruipo.
This release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The shares to be offered and sold in the IPO have not been, and will not be, registered under the U.S. Securities Act of 1933 (“Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and, accordingly, may not be offered and sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws.
This release may contain certain forward looking statements about future events, including PropertyGuru’s expectations about the performance of its businesses and certain strategic transactions. Forward looking statements can generally be identified by the use of forward looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “goals”, “aims”, “target” and other similar expressions. Forward looking statements involve inherent risks and uncertainties, both general and specific, many of which are outside the control of PropertyGuru. There is a risk that such predictions, forecasts, projections and other forward looking statements will not be achieved. A number of important factors, both known and unknown, could cause PropertyGuru’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements, and many of these factors are beyond PropertyGuru’s control. No forward looking statements should not be relied on as an indication or guarantee of future performance. Past performance is not necessarily a guide to future performance.
No comments:
Post a Comment