Singapore start-up 99.co buys Indonesian property portal UrbanIndo
Singapore’s property search start-up 99.co has acquired Indonesia’s UrbanIndo – said to be the largest property portal in Indonesia, with more than 1.2m active listings – for an undisclosed amount. With the acquisition, 99.co is believed to be among the largest property listing portals in Singapore and Indonesia. Property consumers in both countries can now access 99.co for all property-related transactions. 99.co said that acquiring UrbanIndo will be a key cornerstone to its continual growth to become the No. 1 property technology company in Indonesia. Darius Cheung, co-founder and chief executive officer of 99.co, said: “The UrbanIndo team has built up critical leadership in product, listings and consumer demand that will put us on a 10 times growth trajectory in Indonesia.” Petra Barus, chief technology officer of UrbanIndo, added that both teams will deliver “exciting new products” to serve buyers, agents and developers.