Still don't have a dream home of your own? Want a rental property? "Oops, this is not in my budget!" Have such issues? Don't know where to find the best place to stay? Suffering from selling issues? Chill! why do you worry?
Magicbricks is a platform that would help you find the best Real Estate Properties in India. To date, this is the best property site in India. As per the latest reports, 50% of people live in their own houses, 30% stay on rent, and 13% stay in their parents' house in India. The new generation doesn't want to tie down themselves with heavy loans. So, few opt for rent as well. Buying and selling both are very easy to do jobs here. Want to know more right? Read the magickbricks success story below
- Company Name-MagicBricks
- Headquarters-Noida, India
- Industry-Real Estate
- Founder-Sudhir Pai
- Parent Organization-Times Internet Ltd.
Magicbricks - About
Magicbricks is an online platform for both property buyers and sellers. The company is a division of Times Internet Limited. It's a wholly-owned subsidiary of Bennett, Coleman & Co. Ltd. It also provides all sorts of source information about all the property related issues. Apart from this, There is a news section called Property Pulse which includes property news, home loans concerns, legal and taxation issues, expert opinion and analysis of the property trends.
Magicbricks - Founder And Team
Sudhir Pai is the founder and the CEO of MagicBricks. Before that, he was the head of the sales department at Times Group. He was also the Corporate Manager at Citibank. He has also served Hindustan Lever Limited and Marico Ltd as the Area Sales Manager.
Sudhir Pai, Founder and CEO at MagicBricks
He started his career from Wipro as the Technical Engineer. He pursued his education from Goa Engineering College. After that, he pursued an MBA in Marketing and Systems. From the Symbiosis Centre For Management and Human Resource Development.
Magicbricks - Business Model
Companies like Magicbricks, 99acre. They have got the same business model.
- Their source of revenue includes charges for listing a particular property. This way is better than free listing.
- MagicBricks charges the person advertising an amount for a premium listing of the advertisement for particular products.
- There are various properties at MagicBricks. For them, they highlight the properties with different colours.
- The company provides very good locality information with the actual locality photographs.
Magicbricks - Revenue Model
"Advertisements" is a very common word. Everybody has come through it once, twice, thrice or more than that. It collects money from the banners as well. Of course, it's an online portal. It also collects money from the searches made. It provides a hell lot of facilities to its users. Details are already mentioned above. It also provides a feature. It is the luxury section of the website. Personalized services like the Vaastu, Astrology is also involved within it. Hence people need not waste money after these aspects. And the company earns in this way.
Magicbricks - Tagline, Slogan And Logo
The tagline of the company is "Property Sahi Milegi Yahin". This is the current one.
The logo of the company uses a white background. There is a lettering, " magic bricks". It's written in small letters.
Magicbricks - Funding And Investors
Property listings website MagicBricks has raised a sum of Rs. 30 crores from its parent company Times Internet Ltd. This fund will be used by the company to brand building initiatives. Product development and seller development activities will take place soon. The company says that it sees itself playing a much greater role of a consumer. With this money, more efforts will be put on the platform. They are also aiming towards having almost 85% of all the available properties to be listed on their site.
Magicbricks - Growth
The company has grabbed many customer's eyeballs towards it. The Real estate portal MagicBricks has reported 74% growth in the second quarter. The first quarter saw a 48% growth. But the second one is enormous as mentioned above. The mobile app has hit more than five million downloads. It has made itself the one and only in its category to achieve the milestone. The company is experiencing high growth day by day. This was much awaited. As in the last three years, there was a slowdown in the growth process.
Magicbricks - Competitors
The top competitors of the company are 99acres, HOUSING.com, and commonfloor.com
99acres is the top competitor of MagicBricks. Compared to MagicBricks the company generated less revenue. It is $11.3 million for 99acres.
Housing.com is the second competitor of MagicBricks. It is headquartered in Gurgaon, Haryana, India. This company generates 104% the revenue of MagicBricks.
Commonfloor is one of the top competitors of MagicBricks. It is a private company founded in 2007. It is headquartered in Bengaluru, Karnataka, India. Compared to MagicBricks this company has fewer employees.
Magicbricks - Future Plan
The goal of the company is to bring a better workplace for its workers. With a major transformation. The workers occupy the maximum spaces. And the Senior Executives usually get glass cabins. But these things are going to change soon. Productivity would no longer be a mandatory issue. The company will be encouraging creativity a lot. Work styles and the workplace's flexibility will be the fundamentals of the evolution. More technological things will be inserted into the app as well as the site.