By appoints Amit Masaldan as national sales head
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Mumbai-based online realty platform, run by Elara Technologies Pte Ltd, has appointed Amit Masaldan as national sales head, it said in a statement.

Amit Masaldan
Masaldan, who will be responsible for building Housing's sales and marketing infrastructure and executing its go-to-market plan, was earlier working with the Times Group-owned property portal MagicBricks, leading a sales team of over 500 personnel.

He has 16 years of experience in the banking, financial services and insurance domain with companies such as ABN Amro Bank, Standard Chartered Bank and Religare Securities.

Masaldan will report to Mani Rangarajan, chief business officer, platform business unit,

The new appointment comes in conjunction with the company's merger with online real estate broker PropTiger, the statement added. The deal involved the combined entity receiving fresh funding of $55 million from their key investors.

“The online real estate industry is going through a transformational change and after the recent merger with PropTiger, is well-positioned to offer a holistic experience to all stakeholders,” said Masaldan., founded by a dozen IIT-Bombay students in 2012, was incorporated as Locon Solutions Pvt Ltd. In September last year, its chief marketing officer Nikhil Rungta had quit to join Intuit India as managing director. Rungta had joined Housing from Reliance Jio in November 2015.

The company was in the spotlight for most of the last two years, for reasons including an acrimonious war of words between co-founder Rahul Yadav and the company’s investors that later led to his ouster, and a disproportionate cash burn.

After Yadav, Jason Kothari was appointed the company's chief executive in November 2015. Under his supervision, the company shut down a few verticals and decided to focus only on online property sale. It also withdrew from many cities and cut its workforce from around 2,000 to a little under 1,200.

In January 2016, Housing raised another $15 million from existing investor SoftBank, bringing its total investments to $135 million. Its other investors include Nexus Venture Partners, Helion Ventures, Qualcomm Ventures and Snapdeal founders Kunal Bahl and Rohit Bansal.

News Corp, which holds a significant stake in PropTiger, owns the parent of this website.

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