After helming Times Internet-owned proptech venture MagicBricks (MB) for over 15 years, its CEO Sudhir Pai has tendered his resignation, Inc42 has learnt. “The last 15 years at MB have been frenetic and I’ve never had time to think for myself; I intend to reflect/recalibrate as I determine what to commit to for the next 10-15 years. There’s been no better time to do this than now when the company is at a stable juncture with a full LT team onboard and a strong organisation wide talent pool,” Pai told employees in an internal email. Inc42 has accessed the email sent by Pai. Pai declined to comment on Inc42’s queries on his resignation, while MagicBricks didn’t respond to an email questionnaire. The story will be updated on receiving a response. Pai’s exit from the proptech business comes at a time when it is doubling down on M&As to bolster its growth trajectory. In December 2024, it acquired tech company PropViz to add 3D visualisation features like virtual walkthroughs and interactive tours to its platform. Earlier, it also acquired AI-powered CRM platform ReadPro to provide brokers with more efficient tech solutions to replace manual processes. In October last year, Pai, who… Read MoreInc42 Media
