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Steve Melhuish, co-founder and inaugural CEO of PropertyGuru, has formally resigned from the company’s board of directors, marking a strategic shift towards his commitment to climate technology ventures. Melhuish expressed this decision in a LinkedIn post, emphasizing his intent to collaborate with innovative entrepreneurs in co-founding, investing, and developing new climate tech ventures at a scale of 100×100.
While retaining a modest stake in PropertyGuru, Melhuish also maintains a board observer position alongside co-founder Jani Rautiainen, as highlighted in his post. In his own words, Melhuish acknowledged that stepping down from the PropertyGuru Group director role, after more than 16 years, was a significant but necessary decision, given his exclusive focus on climate-related initiatives.
Having co-founded PropertyGuru in 2007 shortly after relocating to Singapore, Melhuish served as its CEO until 2016. Post his operational leadership, he assumed the position of vice-chairman. His successor, Hari V. Krishnan, a former vice president at LinkedIn, has been at the helm since then.
Since his transition from PropertyGuru, Melhuish and his wife Liz established Planet Rise, an impact investment firm, in August 2019. Additionally, he is a founding partner at Wavemaker Impact, a climate tech venture builder launched by Wavemaker Partners.
Meanwhile, PropertyGuru, known for its proptech innovations, went public on the New York Stock Exchange in 2022 through a SPAC deal with Bridgetown 2, backed by notable figures such as Peter Thiel and Richard Li. Notably, the company reversed a four-quarter streak of losses, reporting US$233,000 in net income for Q3 2023.
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By Proptechbuzz
By Ravi Kumar
