About PropertyFinder and Dubizzle
Both Property Finder and Dubizzle are leading online marketplaces for real estate in Dubai and UAE. However, Dubizzle is a general classifieds and has other verticals (cars, jobs, others) while PropertyFinder is only about property.
Dubizzle was fully acquired by Naspers through its subsidiary OLX Group. Notably, OLX Group also recently invested $1.1 billion to acquire a further 29 % stake in Avito, leading classifieds website in Russia (read more).
While Property Finder does not belong to a larger group, it is also well funded. Indeed, Property Finder raised $120 million in a round led by General Atlantic.
As part of its latest round of funding, Property Finder was valued at $500 million. Less than 3 years ago, Property Finder was valued at $200 million when it raised a $20 million Series B from Vostok New Ventures in January 2016. Using the industry’s usual value-to-revenue ratio (x10), this could indicate that PropertyFinder’s revenues increased from $20 million to $50 million in 3 years. Indeed, property portals are usually valued at 10 times their revenues.
Similarly, Naspers acquired 49 per cent of Dubizzle for $190 million in April 2018. Hence completing the 51 per cent the investor already acquired in 2013. Consequently, Dubizzle is valued at $400 million. Interestingly, the founders had sold their majority stake to Naspers for $120 million in 2013, which means that the company’s valuation tripled in 5 years.