Singapore-based property and real estate company 99.co appointed Wasudewan as its new deputy CEO for Indonesia. According to his LinkedIn page, Wasudewan will be in charge of leading and building two 99.co websites, 99.co.id and rumah123.com, to become the best partner and provide solutions for consumers, property developers, property agents, banks, and other stakeholders.
The newly appointed executive will report to Ming H Chong, 99.co’s Indonesia CEO, and to Darius Chueng, the company’s group CEO and co-founder.
“To be honest, I’ve been seeking for him to join us for three years now. With talent like Wasudewan, we will be able to scale in a way where my role actually changes to be more strategic and much less tactical,” Chueng told Tech in Asia.
Wasudewan previously worked as the Indonesia manager of Rumah.com – a unit of 99.co rival PropertyGuru – for four years. He was responsible for managing sales and operations, and increasing profitability for the business. Before joining 99.co, Wasudewan worked as the chief executive of automotive marketplace Oto.com, where he was responsible for driving aggressive organizational and revenue growth for three years.
Recently, 99.co said it has raised its revenue by 62% in 2020 on the back of cost-cutting measures and efforts to improve fundamentals. In 2019, 99.co and property digital advertising conglomerate REA Group established a joint venture to create the largest customer and listings footprint in Singapore and Indonesia.
The combined company seeks to provide the most compelling property marketplaces in Singapore and Indonesia while delivering the best digital platforms to property professionals to help them grow their businesses, said a press release then. While 99.co shareholders retain shareholdings in the joint venture company totaling 73%, REA Group, which was said to contribute $8 million in working capital, is the largest shareholder with a 27% shareholding.