PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel

Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving the combined company an equity value of about US$1.78 billion.

Founded in 2007, PropertyGuru currently hosts more than 2.8 million monthly real estate listings. It also serves 37 million property seekers a month and 49,000 active property agents across Indonesia, Malaysia, Singapore, Thailand and Vietnam.

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