FangDD Withdraws $35 Million Patent Purchase Agreement

January 21, 2025

The publicly listed Chinese real estate marketplace operator FangDD has withdrawn a patent purchase agreement worth $35 million after failing to close the necessary transactions within the required time limits.

FangDD disclosed its intention to purchase patents to acquire patents related to cloud computing technology in China in June 2024 with a deadline of September 21, 2024. However, FangDD signed a termination agreement to cancel the patent purchase on January 17, 2025.

FangDD is currently embroiled in a race against time to regain compliance according to Nasdaq, the New York stock exchange that requires shares to retain a minimum value of $1.00 per share to remain listed. FangDD share prices continue to struggle and the firm now has until June to improve its share price from today's trading price of circa $0.61.

It is unknown whether FangDD's decision to cancel its patent purchase is related to its current financial difficulties but share prices were largely unaffected by the patent purchase withdrawal, with a negligible uptick to $0.66 on the date of the announcement.

FangDD did achieve a 52-week high was $4.38, achieved in October 2024, but share prices have tumbled and settled since.

January 21, 2025
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Cooperrocketacq
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More
Scout24 German Houses 1
Scout24 Closes Another Data-Focused Acquisition

Germany-based marketplace operator Scout24 has continued its expansion into real estate data with the acquisition of Austrian proptech firm ImmoUnited....

Read More
People Roundup 28Mar 2
People Roundup: Aviv Group, Pisos.com, Kleinanzeigen, REA India, Anjuke

There have been several high profile C-suite moves in this week's People Roundup. We'll start in Europe...   Europe: Aviv...

Read More
Product Update 2025Mar28 3
Product and Services Roundup: Zoopla, ViewIt

This week's Product Roundup starts in the UK, where it's all about Zoopla...   UK: Zoopla's MyHome product is used...

Read More

Editor's Pick