Google Capital Invests in Indian Online Real Estate Startup CommonFloor

Wall Street Journal
An investment arm of search giant Google is betting that India’s online real estate market is set to boom.
Google Capital is providing fresh funding to CommonFloor, the Bangalore-based startup said in a statement Thursday. The amount of the investment was not disclosed.
CommonFloor, which launched in 2007 and has more than 1,000 employees, allows users to list and search for residential properties. The company says it is the biggest homes portal in the country of 1.2 billion people, with more than 500,000 listings across over 200 cities.
“The online real estate market in India is poised for tremendous growth,” David Lawee, a partner at Google Capital, said in the statement. CommonFloor’s chief executive, Sumit Jain, said the funds would be used to beef up the company’s platform.
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