Bayut

From Wikipedia, the free encyclopedia
Bayut
Bayut Logo.png
Type of site
Online property portal
Available inEnglish, Arabic
Founded2008
HeadquartersDubai, United Arab Emirates
Founder(s)Zeeshan Ali Khan
Imran Ali Khan
CEOHaider Ali Khan
IndustryReal Estate & Internet Marketing
Employees200+
ParentEmerging Markets Property Group (EMPG)

Bayut is a UAE-based property website and a part of the Emerging Markets Property Group that hosts real estate listings for residential and commercial properties across the UAE's seven emirates.[1]

History[]

Bayut was founded in 2008 by the brothers Zeeshan and Imran Ali Khan, following their launch of Zameen.com in Pakistan.[2] Their elder brother, Haider Ali Khan, became company CEO in 2014, and began an investment drive.[3]

After Bayut parent company EMPG raised substantial funds of $100 million in early 2019, led by KCK Group, a Californian investment company[4] Bayut acquired the Middle East assets of Lamudi,[5] which operated in the UAE, Saudi Arabia and Jordan,[6] and itself expanded into Saudi Arabia.[7] The same year, Chris Hemsworth starred in a Bayut commercial.[8]

In April 2020, EMPG and the Netherlands-based OLX Group announced a merger of their businesses in the UAE, Egypt, Lebanon, Saudi Arabia, Kuwait, Qatar, Bahrain, Pakistan and Oman, together with the OLX-owned Dubai-based classifieds website, Dubizzle.[9][10] In May 2020, EMPG further acquired Lamudi Global, with assets in the Philippines, Mexico and Indonesia.[11]

Investment[]

Bayut is one of the GCC region's most well-funded tech startup companies. Its parent company, Emerging Markets Property Group, has raised a total of $310 million over several investment rounds. They were backed seasoned investors such as KCK Group and Exor Seeds, fuelling Bayut's expansion and growth in the Middle East.[12] In April 2020, EMPG raised $150 million in its latest investment round, taking the group's valuation to $1 billion.[13]

References[]

  1. ^ "Bayut continues on a steady upward trajectory with record-breaking traffic of over 3 Million sessions recorded in October 2019". Construction Business News Middle East. 2019-11-28. Retrieved 2020-08-17.
  2. ^ "Entrepreneur of the Week: Haider Ali Khan of Bayut.com". ArabianBusiness.com. Retrieved 2020-09-18.
  3. ^ "UAE's Bayut Secures Investment". Property Portal Watch. 7 January 2015. Retrieved 26 February 2015.
  4. ^ "Property portal Bayut's parent company raises $100 million". The National. Retrieved 2020-08-17.
  5. ^ "UAE's Bayut acquires real estate portal Lamudi". The National. Retrieved 2020-08-17.
  6. ^ Nagraj, Aarti (2019-04-09). "UAE property portal Bayut buys Lamudi Middle East". Gulf Business. Retrieved 2020-08-17.
  7. ^ "Dubai-based property portal Bayut expands to Saudi". MENAbytes. 2019-05-22. Retrieved 2020-08-17.
  8. ^ "Chris Hemsworth stars in a new property advert filmed in Dubai". The National. Retrieved 2020-08-17.
  9. ^ Godinho, Varun (2020-06-02). "EMPG and OLX Group merge MENA and South Asia operations to form $1bn Dubai-based tech company". Gulf Business. Retrieved 2020-08-17.
  10. ^ Staff, Entrepreneur Middle East (2020-06-03). "EMPG and OLX Group, Owners Of Dubai-Based Bayut And Dubizzle Respectively, Merge To Form Unicorn Company". Entrepreneur. Retrieved 2020-08-17.
  11. ^ "Bayut's parent company acquires property portals in Indonesia, Philippines and Mexico". The National. Retrieved 2020-08-17.
  12. ^ "Bayut.com parent company closes $100m investment in latest funding round". ArabianBusiness.com. Retrieved 2020-08-17.
  13. ^ "Property portal Bayut's parent company secures $150m investment". The National. Retrieved 2020-08-17.

External links[]

Retrieved from ""