We have moved office from SGR Towers to Diamond District!

With offices in over 18 cities and over a 1000 people-strong team, CommonFloor is on a significant growth path to achieve its vision to be the most preferred online real estate platform. In order to cater to the growing business needs and increasing team size, office space has been restructured in Bangalore. Some of the functions that operated from SGR office facility have now moved to Diamond District campus to join the Product, Engineering and Design teams.
Here’s a sneak peek of the new office space.

Pic 1The 4th floor office caters to the Founders’ office, Marketing, HR, Administration, Finance and Domain research.

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The 7th floor office caters to Engineering, Product and Design.

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The sparkling new area is also home for a recreational space.

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Recreation 1It sure looks like a fun place to work,doesn’t it?

CommonFloor organizes its second town hall meeting – Involve,Interact, Inspire on Jan 9

CommonFloor’s town hall meeting is an opportunity to involve all the employees and provide them with an opportunity to interact with colleagues across functions and be inspired by other team members. The second edition of ‘i3 (Involve,Interact,Inspire)’, the new name and theme for CommonFloor’s townhall meeting was held on January 9, 2015 at Matthan Hotel, Bangalore with other locations joined via web cast.

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The Founding team, Sumit Jain, Lalit Mangal and Vikas Malpani put  on a great start with the ‘Big News’ of Google Capital’s investment in the organization. Thereafter, they took the team through the key highlights of the year 2014 at the business, organization. Employees completing 5 years of service were felicitated in recognition of their commitment and dedication.

The Founders were in for a surprise when their parents commended them for their belief in the dream and success insofar.

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Amongst the interesting stories related to CommonFloor that were being shared by the team, the one on the genesis of CommonFloor logo caught a lot of attention.

The evening turned brighter with the fun-filled party ‘CF NIGHTS’. The ‘Superheroes’ themed party had all the elements of games, song and dance.

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Sure, the team works hard and parties harder!

“3,300 sq ft of space gets listed on CommonFloor.com every minute” says Sumit Jain in an interview with ET Realty

Every minute, as much as 3,300 sq ft of residential space is getting listed on Bangalore-based real estate portal CommonFloor.com, says Sumit Jain, CEO and co-founder of CommonFloor.com.

The total space listed on the website is 600 million sq ft. currently.

This figure is likely to rise. There are good signs for growth of online real estate portals. Internet penetration is growing fast. About 250 million are hooked on to the internet which is expected to double to 500 million by 2017, according to a recent Google report.

The share of online advertising spend is expected to double in 3 years from the current 8% to 16%, according to same report.

“We will grow from the current 600 million sq ft listing on our website as we want and plan to map all real estate projects in tier-I and tier-II towns to our website,” says Jain. However, he declined to give details of the total space he plans to bring under the CommonFloor fold.

The company, which started in 2007, today has over 100 thousand listings of projects. It recently acquired college gossip app Bakfy and has had funding from Google Capital, Tiger Global and Accel Partners.

Read the original article here

Google Capital Invests In Indian Real-Estate Platform CommonFloor Featured in Techcrunch

CommonFloor, which claims to be India’s largest online real estate platform, has raised an undisclosed amount of new funding from Google Capital. What’s notable about the funding is that it marks Google Capital’s third investment in Asia since the firm, which focuses on startups in the mid-to-late stages of growth, launched in February.

Google Capital has invested in 10 companies since its inception, and its interest in Asia is yet another promising sign for startups in the region, where venture funding for post-seed stage tech companies is often difficult to come by.

That appears to be changing gradually, as funds backed by large tech firms, like Google Capital, SoftBank, and Rakuten, as well as VC firms such as Incubate Fund begin to pour more money into startups in China, India, and Southeast Asia. In addition, South Korea also recently saw a flurry of funding activity.

Though Asian startups have been frustrated by lack of VC-backing and opportunities for exits, it’s not surprising that firms like Google Capital are turning their attention to the region, especially since Asia is set to become the world’s largest e-commerce market, with plenty of room left for growth, especially in India and Southeast Asia.

Before its investment from Google Capital, CommonFloor, which was founded in 2007, had already raised $47.9 million from Tiger Global and Accel Partners.

India’s real-estate market has suffered from too much supply and low sales, but the government wants to give it a boost with an ambitious new program that aims to make housing affordable for all people by 2022 by investing $2 trillion in real estate over the next eight years, as well as lowering interest rates on home loans.

Founder Sumit Jain says having Google Capital onboard will give CommonFloor a chance to take advantage of the tech giant’s technical and operational expertise as it continues to scale up its business. CommonFloor currently has 200,000 properties posted directly from real estate owners in India, but it seeks to be more than just a listings site.

Jain says CommonFloor’s data tools help potential buyers and renters find the best neighborhoods for them to invest in. (The company, which has more than 1,000 employees, has already mapped 10 million homes for its listings and says it wants to eventually map every property in India). Then, after a deal is closed, owners can continue to use CommonFloor to manage their rental properties.

In addition to working on its platforms, CommonFloor will also grow by making acquisitions. Yesterday, it announced the purchase of Bakfy. Though Bakfy is an anonymous social gossip app, CommonFloor is more interested in its local and social search capabilities, which can help people find new apartments in their neighborhood. Jain says CommonFloor plans to make more acqui-hires, but it hasn’t decided on any companies yet.

Read the original article here

“We want to be the Google of Indian real estate” says Sumit Jain in an interview with Business Standard

They had their first date a few months ago at a common friend’s party and within a few weeks decided to get married. That’s the story of online real estate portal CommonFloor.com and its new investor Google Capital, the internet giant’s late-stage growth equity fund. The three co-founders of CommonFloor.com, Sumit Jain, Lalit Mangal and Vikas Malpani, first met the Google Capital team at their existing investor Tiger Global Management’s annual conference in the US. Over the following weeks, the three entrepreneurs visited the internet giant’s campus in San Francisco and decided on the fund raising.

To read the entire article click on the image to enlarge it.

Sumit Jain in Biz Std. Jan 11, 2015Read the full article here

 

Google Capital Invests in CommonFloor.com

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Bangalore, January 8, 2015: CommonFloor.com, India’s leading online real estate platform today announced that it has received a new round of funding from Google Capital. This is Google Capital’s third investment in Asia.

Sumit Jain, Co- founder and CEO at CommonFloor.com said, “This investment shows that Google Capital believes in CommonFloor and our vision to transform the real estate market in India. We look forward to drawing on the technical and operational expertise of Google Capital’s partners and advisers as we continue to scale our business.”

David Lawee, Partner at Google Capital said, “CommonFloor.com makes it easy for people in India to research, buy, sell and rent real estate. The online real estate market in India is poised for tremendous growth, which is why we’re excited to work closely with CommonFloor’s excellent team in the months and years ahead.”

This investment comes at an exciting time for the online real estate sector in India, fueled by the Indian Government’s goal of providing Housing for All by 2022. To achieve this, the Government is allocating a budget of INR 4,000 crore for affordable housing, introducing incentives for infrastructure financing by the RBI. It has lowered interest rates on home loans, established a framework for REITs and, most recently, relaxed FDI norms in the construction sector.

Jain adds, “This will further fuel our vision to empower people to realize their property dreams. We continue to exhibit industry leading growth; the money raised will be strategically invested in making the platform more robust to enable the buyers and sellers to find their match faster.”

CommonFloor.com has more than 1 lakh residential projects listed on their platform from over 200 cities,which is more than any other property platform in India. The platform has already mapped 10M homes and is committed to map every property in India on its platform. The Company has a team of 1000+employees and their constant endeavour is to get the best talent to work with them.

About CommonFloor.com:

Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com, is India’s leading real estate platform that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.

From searching for an apartment to facilitating interactions within an apartment community on the ‘CommonFloor’ platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers’ needs around their home. With over 5 lakh active property listings from over 200 cities, it has over 1 lakh residential projects listed with it. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.

To know more about CommonFloor.com, please visit: http://www.commonfloor.com
Contact: Sweta.Mohanty@commonfloor.com

About Google Capital:

Google Capital is a growth equity fund backed by Google. Google Capital invests in companies that use technology to change the way people experience the world. Advised by Google technology, product and business leaders, the Google Capital team has the extensive operational and technical expertise to make smarter investments and help our portfolio companies succeed. Some of Google Capital’s investments to date include SurveyMonkey, Lending Club, Credit Karma and Freshdesk.

Contact for information at Google Capital

To learn more about Google Capital, please visit: www.googlecapital.com

CommonFloor acquires Bengaluru startup Bakfy

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BENGALURU: Property listings portal CommonFloor has acquired Bakfy, a one-year-old Bengaluru-based venture founded by three young technology professionals Ashutosh Garg, Niranjan Bala and Rajesh Eswarlal.

The companies did not disclose the deal size, but the deal is what is called an acqui-hire, an acquisition for the expertise that the founders bring. Bakfy’s app, an Indian version of anonymous social messaging app Yik Yak, is not part of the deal and is unlikely to see any further investments.

“We liked the founders and their work in building a mobile-only anonymous social network. We are bullish on mobile and the Bakfy team brings proven capability of scaling up a mobile-only social network in India, which is quite unique,” said Sumit Jain, co-founder and CEO of CommonFloor.

Garg noted that Bakfy had worked at the intersection of social and mobile and at scale. “We believe we can add value to CommonFloor in driving innovation around mobile applications. We spent hours with Sumit and Lalit (CommonFloor founders) talking about social networking and the real estate sector and they loved our ideas. Having done a similar app themselves, called Ugal Do, they could relate to what we were trying to do,” said Garg, who worked as a software professional in Oracle before starting the firm.

Ravi Gururaj, chairman of Nasscom Product Council, said the Bakfy team could provide “a nice boost” to CommonFloor’s mobile experience and added: “Ashutosh Garg is the type of good hustler any team will want on their side.”

CommonFloor can afford to make these acquisitions. The Bengaluru-based company raised $30 million from American hedge fund Tiger Global Management in September, taking the total funds raised so far to nearly $50 million. Accel Partners had invested in an earlier round. Investors have been investing heavily in property portals as renting, buying and selling property online has gained traction.

Read the original article here - http://timesofindia.indiatimes.com/business/india-business/CommonFloor-buys-Bengaluru-startup-Bakfy/articleshow/45786392.cms

15 Trends That Will Shape Real Estate In 2015!

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Get Your 2015 Calendar for free here >> http://bit.ly/1vs8xYP

CommonFloor Wishes You A Happy New Year – 2015!

 

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Download Your 2015 Calendar here >> http://bit.ly/1vs8xYP

Find your home at LICHFL ‘Nimma Mane’ 2014

Are you still looking for your dream home, a place in the city that you can call your own? If your answer in affirmative, then you must not miss the opportunity that’s coming your way.

With over 70 builders and over 300 projects, to be showcased at the venue, “Nimma Mane” property expo – 2014 by LICHFL is bringing you closer to your home. For the three-day- long property exhibition between December 12 and 14, CommonFloor.com is the exclusive online partner.

This is the 5th edition of the expo and is being held at Koramangala Indoor Stadium, Bangalore. A wide range of properties, special loan sanctions from LICHFL, special offers on processing fees and attractive gifts…all this and more awaits you this weekend.

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In addition, CommonFloor is also participating in the expo to answer all your queries to help you make the right property decision.

Furthermore, Commonfloor.com, in its continuance with its endeavor to be customer-centric, partners in such events to come in direct contact with you who are looking out property seekers. This helps the team to better understand the requirements in order to make the navigation on our website more user-friendly and convenient.