Lamudi to invest $1.6m in BD

Lamudi.com, an online real estate marketplace, has announced to pump in US$1.6 million new investment in its Bangladesh venture. Its Global Managing Director Kian Moini said at a press conference on Saturday it has received $7 million for its Asian ventures. He said that lamudi.com.bd will become market leader in Bangladesh within next 12 months. Lamudi.com.bd is a venture of internet incubator Rocket Internet which was established in 2007. It is headquartered in Berlin. It has 170 ventures in 40 countries. Managing Director David Zwagemaker said, “We’re in Bangladesh because of increasing economic empowerment of the country, to reach to the non-residential Bangladeshis and for rapid urbanisation.” Senior Marketing Communication Executive Riaz Mahmud said that Bangladesh portion of the investment would be $1.6 million, according to a news agency.