# Zingat (2015 – 2025)

- URL: https://girisimcikafasi.com/en/startup-graveyard/zingat/
- Sector: Real estate and construction
- Country: Turkey
- Total funding: unknown
- Cause of closure: Acquired and shut down

## What did it do?

Zingat was an online property platform founded in late 2015 through a partnership between Doğuş Group, one of Turkey's large conglomerates, and REIDIN, a Dubai-based real estate data company. Alongside listings for sale and rent, it offered home valuations based on REIDIN data, neighbourhood analyses and investment information. It also built the Zingat Pro app for professional estate agents.

## Why did it shut down?

Zingat did not end in bankruptcy but through changes in its chain of ownership. Dubai-based Property Finder Group became a partner in 2017, increased its stake in 2019 and bought the whole company in 2023. Under a deal announced in November 2023, Property Finder would become a minority shareholder in Hepsiemlak, while Zingat would merge with Hepsiemlak. According to Hepsiemlak's statement, the Zingat platform was shut down and all services continued through Hepsiemlak. The outcome shows a player that had climbed as high as third place in its market losing its own brand through a merger with the sector leader.

## The story

Zingat was born in late 2015 out of an ambitious partnership. The financial muscle of Doğuş Group and the know-how of REIDIN, a Dubai-based real estate data company, had been brought under one roof. As CEO Ahmet Kayhan tells it, the platform officially went live in January 2016. Zingat billed itself as a smart property site, offering home valuation tools, neighbourhood reports and content on new housing projects alongside its listings.

Growth was fast. According to a Webrazzi report in January 2017, the platform reached more than 200,000 listings and 4.5 million monthly visitors in its first year; it announced that it had risen to third place on measures such as listings and traffic, behind Hürriyet Emlak and Emlakjet. In August 2017 Dubai-based Property Finder Group became a partner. According to egirişim, Zingat at the time had more than 6 million monthly visitors and more than 18,000 estate agent members. In April 2019 a further capital increase of 65 million TL followed, led by Property Finder with the participation of General Atlantic.

In markets with strong network effects such as property listings, however, the leaders' advantage was not easily broken. In 2023 Property Finder bought the whole of Zingat. Under a deal announced in November that year, Property Finder became a minority shareholder in Hepsiemlak, the Doğan Holding company, through a capital injection, and Zingat was to merge with Hepsiemlak. The transaction was subject to approval by Turkey's Competition Authority.

The Zingat brand lived on for a while after the merger. According to a statement published by Hepsiemlak in 2025, the Zingat platform was shut down; all transactions and services were now handled through Hepsiemlak. The zingat.com address also began redirecting to Hepsiemlak.

Zingat's story is not one of collapse but of a merger. Having risen as high as third place with strong partners and a data-driven product, the platform was eventually absorbed into the sector leader, bringing a journey of around a decade to an end.

## Lessons

- When your main shareholder changes, the fate of your brand is rewritten too; plan your capital structure accordingly.
- In listings markets, network effects work in the leader's favour; the number three player is usually pushed into a merger.
- A data advantage makes a difference, but on its own it is no substitute for scale in listings and users.

## Sources

- [Property Finder becomes a shareholder in Hepsiemlak along with Zingat](https://webrazzi.com/2023/11/06/property-finder-zingat-ile-birlikte-hepsiemlak-a-ortak-oluyor/)
- [Hepsiemlak Acquires Zingat: Property Platforms Join Forces](https://www.hepsiemlak.com/emlak-yasam/emlak-rehberi/hepsiemlak-zingati-satin-aldi)
- [Hepsiemlak acquires online property platform Zingat](https://swipeline.co/hepsiemlak-cevrimici-gayrimenkul-platformu-zingat-satin-aldi/)
- [Online property platform Zingat receives investment from Propertyfinder](https://egirisim.com/2017/08/24/online-gayrimenkul-platformu-zingat-propertyfinderdan-yatirim-aldi/)
- [65 million TL investment in Zingat from Propertyfinder and General Atlantic](https://webrazzi.com/2019/04/06/propertyfinder-ve-general-atlantic-ten-zingat-a-65-milyon-tl-yatirim/)
- [Zingat, which published 200,000 property listings in its first year in Turkey, is going for the top spot](https://webrazzi.com/2017/01/06/turkiyede-ilk-yilinda-200-bin-emlak-ilani-yayinlayan-zingat-liderlige-oynuyor/)