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Goldman Sachs invests $33m in local property app

Dec. 15, 2015 - 17:56 By 이선영
Local property app Zigbang has raised 38 billion won ($33 million) from Goldman Sachs and other investors, the company said Tuesday. 

The U.S. investment bank’s private equity arm led the investment, its second funding of a Korean start-up after last year’s 40 billion won investment in food delivery app Baedal Minjok. 

Zigbang, launched in 2002, links realtors and customers across the country on its mobile platform that is equipped with a handy search engine, lots of photos and an aggregate listing of nearly 2.5 million homes for rent or sale. 

Controlling 80 percent of the local real estate app market, the company has surpassed 10 million downloads in October. 

Zigbang said the investment would help the company strengthen its existing services and develop new ones. 

By Lee Sun-young (