Table of Contents
Introduction:
99.co is a map-primarily based totally actual property portal based in 2014 through Darius Cheung, Anuj Bheda, Conor McLaughlin, and Dominic Ee. Headquartered in Singapore, it’s far presently operational handiest in Singapore, eleven though there are plans to make bigger into Southeast Asia withinside the close to future. In 2015, it became named through the Singapore Business Review as one of the most up-to-date startups in Singapore to observe out for, whilst CEO Darius Cheung became named through the Singapore Computer Society because the 2015 Entrepreneur of the Year.
About:
99.co is a assets tech startup based in 2014 through Darius Cheung, Anuj Bheda, Conor McLaughlin, Ruiwen Chua and Dominic Ee. Headquartered in Singapore, it’s far presently operational in Singapore and Indonesia. It is outstanding for being one of the first startups in Southeast Asia to acquire investment from each Sequoia Capital and Facebook co-founder Eduardo Saverin. Other outstanding buyers encompass 500 Startups, Golden Gate Ventures, Fenox Venture Capital, East Ventures, QuestVC, and Kathrein Ventures.
As a assets seek tool, 99.co permits filtering in step with parameters inclusive of district, HDB town, proximity to MRT stations, tour time to particular geolocations (inclusive of workplaces and schools), user-described key words, fee consistent with rectangular feet, yr of completion, etc. It claims to differentiate itself from competitors through prioritizing user-pleasant revel in and applicable seek results. In July 2016, it released a brand new clear out out for choosing listings open to all races as a part of an initiative to fight condo racial discrimination.
Founder & Team:
Launched in 2014 through founders Darius Cheung, Yan Phun and Conor McLaughlin, 99.co distinguishes itself from different assets seek web sites thru its user-pleasant design: functions like fee evaluation facts, finance planners, clever filters, and the cappotential to look through map or shuttle time, have ensured domestic shoppers and renters have the satisfactory selections withinside the marketplace at their fingertips.
In 2015, it became named through the Singapore Business Review as one of the most up to date startups in Singapore to observe out for, whilst CEO Darius Cheung became named through the Singapore Computer Society because the 2015 Entrepreneur of the Year.
The business enterprise had raised US$15.2M of their Series B investment spherical led through MindWorks Venture and Allianz X in August to spur product innovation and growth to different local markets inclusive of Vietnam, Philippines and Thailand.
History:
The notion for developing 99.co got here whilst Cheung had to search for an condominium of his very own for the primary time after his roommate moved out. He referred to the irritating loss of a user-pleasant, complete medium for looking authentic, extraordinary listings in Singapore as a catalyst for developing a higher opportunity to the prevailing internet and cellular tools.
The beta webpage for 99.co became released in November 2014, whilst the respectable release passed off in January 2015. By May 2016, it had over 140,000 listings – a extra than 1000% boom from the 11,000 listings in November 2014.
In June 2016, 99.co released its cellular app for assets sellers, 99Pro together with its 2d anniversary. Saverin commented all through the release, ““The purpose I invested in 99.co is that it’s far the handiest actual property generation business enterprise this is severe in converting the manner actual property is transacted – now no longer only a mere portal with swaths of listings. 99.co creates generation and harnesses facts to assist each stakeholder withinside the industry.” The release additionally marked 99.co’s first a success transition to a sales model.
In July 2016, an Australian Vietnamese worker, Sonny Truyen, obtained large grievance withinside the media for making provocative feedback approximately Singapore on social media. The incident caused Cheung to hearthplace Truyen immediately, however additionally attraction to the general public to chorus from attacking Truyen on the premise of his ethnicity and nationality.
Name & Logo:
Revenue:
As of January 2015, it has raised a complete of SGD$2.7 million (US$2 million). Singapore-primarily based totally proptech corporation 99.co recorded US$five.five million in sales closing yr – up from US$three.four million in 2019 – mentioning subscriptions, partnerships with media and developers, and programs inclusive of must-see listings as motives for the jump. On the returned of its sturdy boom, however, have been cost-reducing measures and steps to enhance its fundamentals, which led to financial savings of round US$100,000 for the corporation.
- Pay cuts and swaps: As a part of its cost-reducing measures, 99.co personnel took voluntary pay cuts and opted for a pay change model of 99.co’s worker inventory possession plan, wherein a greenback in their pay became exchanged for US$2 really well worth of inventory. Meanwhile, CEO and co-founder Darius Chueng forwent his remuneration for more or less 9 months.
- Tech innovations: To optimize server fees and decrease server space, the corporation revisited its software program and brought video listings and a video calling capability on its proptech platform. In November 2020, month-to-month visits to the internet site crossed 27 million, despite the fact that 78% of this site visitors got here from Indonesia, wherein 99.co additionally operates.
- Forging on: Admittedly, its foremost rival PropertyGuru stays the main proptech participant withinside the region – it purportedly held a 75% marketplace percentage in Singapore as of May 2020. But it appears 99.co is undeterred. The business enterprise’s acquisition of assets platform and facts company Singapore Real Estate Exchange closing November became simply one step in its route forward. The corporation is subsequent seeking to boost price range and seize the broader marketplace in Southeast Asia.
Funding & Investors:
Its buyers encompass Facebook co-founder Eduardo Saverin, Sequoia Capital, 500 Startups, Golden Gate Ventures, East Ventures, Fenox Venture Capital, QuestVC, and Kathrein Ventures.
In May 2014, 99.co introduced securing SGD$700,000 (US$560,000) from 500 Startups, Golden Gate Ventures, East Ventures, and Fenox Venture Capital.
In January 2015, 99.co-introduced securing SGD$2 million (US$1.6 million) from Facebook co-founder Eduardo Saverin and Sequoia Capital, bringing its overall investment to SGD$2.7 million (US$2 million) and setting the business enterprise at a valuation of US$eight million. It has on account obtained a similarly however undisclosed quantity of investment from Saverin.
Challenges Faced:
99.co is understood nowadays because the quickest developing assets portal in Singapore however returned in 2019, and the business enterprise became overshadowed by its extra successful competitors. The preliminary Semrush Keyword Gap evaluation confirmed a key-word hole of 10,000 key phrases among the portal and its foremost competitor and the distinction in site visitors became even extra dramatic. 99.co got down to cast off this hole and turn out to be one of the leaders withinside the actual property industry.
Other Services Offered thru 99.co:
MARKING the second anniversary of assets startup 99.co, co-founder and leader Darius Cheung on Thursday released 99PRO, a “fast, simple, intuitive” app for actual property sellers and home seekers.
Among the functions it gives are an interactive map seek with geolocation capabilities, limitless ground plan get entry to throughout all condominiums and HDB (Housing and Development Board) units, in addition to historic transaction facts for HDB and condos. The app additionally presents the present-day records on new release properties, a calendar to agenda conferences at the go, and an actual-time chat characteristic for sellers to speak to home seekers and different sellers.
99PRO is to be had as a subscription plan at S$388 consistent with annum. 99BUSINESS – costing S$388 a yr – is a subscription plan that permits sellers to add as many as a hundred listings on 99.co. 99PREMIUM – priced at S$728 consistent with annum – is a mixture of each program.
Competitors:
Top Competitors of 99.co
- PropertyGuru Pte LTD. – 456. $ninety one Million.
- TheEdgeProperty.com.
- iProperty Group Limited. – 314. $17 Million.
- Greyloft Pte Ltd. – <$five Million.
- Propertini Inc. – <$five Million.
- Palmer IP Inc. – $7 Million.
- Property Hub Sdn Bhd. – $7 Million.
- Propwall.my. – three,126. $625 Million.
Latest News:
- October 10, 2019: 99.co increases a $eight,000,000 collection C spherical from REA Group.
- August 16, 2019: 99.co increases a $15,000,000 collection B spherical from Allianz, EV Growth, East Ventures, MindWorks Capital and Sequoia Capital India.
- April 6, 2017: 99.co increases a $7,900,000 collection A spherical from 500 Global, East Ventures, Eduardo Saverin and Sequoia Capital India.
- January 29, 2015: 99.co increases a $1,599,999 seed spherical from Eduardo Saverin and Sequoia Capital India.
- May 6, 2014: 99. co increases a $560,000 seed spherical from 500 Global, East Ventures, Golden Gate Ventures, Pegasus Tech Ventures, Quest Ventures and Velos Partners.
Future Plans:
At the moment are specializing in launching new structures and facts for purchasing extra get entry.
Some FAQ About 99.co:
If I now no longer desire to apply this service, how can I disable it?
AI is presently an opt-in service, for this reason, you do now no longer want to do whatever in case you do now no longer desire to auto-import your listings. If you’ve got got opted in and feature modified your mind, drop us an e-mail at aid@99.co
If I use Real Post, will there be duplicates if I permit AI?
If you operate RealPost actively, it’s far optimal to hold the use of it as opposed to counting on AI. RealPost offers you the maximum manipulation over the accuracy of your listings.
How lengthy does it take for my listings to be imported over?
In maximum cases, it’s going to take 2 – three running days, however, may also take longer in a few cases (i.e. undefined location, massive picture graph sizes, etc). If you are going through any issues, experience unfastened to attain out to us at aid@99.co.
Will my credit be deducted for listings that are imported automatically?
No.
Conclusion:
99.co first entered the Indonesian marketplace in 2016 as a part of its growth throughout Southeast Asia, with workplaces in Jakarta and Surabaya that centred on the brand new houses segment. To date, 99.co has garnered the aid of extra than four,000 assets sellers and key associate corporations inclusive of Century21 and ERA Indonesia.
