Daily Briefing: Property portal 99.co forms JV with Australia's REA Group; Amazon expands local online store in Singapore

And NTUC FairPrice has launched 30 housebrand products.

From DealStreetAsia:

Property portal 99.co will establish a joint venture with Australia-listed digital advertising firm REA Group aiming to be the largest online property listing platform in Singapore and Indonesia.

REA Group said in a statement that the joint venture company will be established by the transfer of the existing businesses of 99.co, iProperty.com.sg and Rumah123.com.

Existing 99.c0 shareholders, including founding partners Sequoia, Facebook co-founder Eduardo Saverin, Allianz X, MindWorks Ventures, East Ventures, and 500 Startups will have a combined stake in the JV company of 73 per cent.

The development comes close on the heels of PropertyGuru’s filing for an IPO on the Australian Securities Exchange (ASX).

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