News Corp Enters US Online Property Market With globrix.com
October 21, 2008 by Emma Sorensen
A short announcement on globrix.com’s blog late last week revealed their plans to break into the already crowded US market. globrix.com Chief Technical Officer, Ian Parry, explained the details in an exclusive interview with globaledge.co.uk.
globrix.com will initially enter the premium property market on the US East and West Coasts in early 2009. And it won’t stop there: Parry also announced that the company has developed semantic translation technology which will translate real estate listings into multiple languages, allowing for further global expansion.
London-based globrix.com was established in 2007 by two Internet search technologists, and in October 2007 received funding from UK media giant, News International.
The company has been making alot of noise and some inroads into the UK market. The globrix.com website operates in a similar way to dothomes.com – by displaying listings and then linking to the agent’s websites (at no charge to the agent). Revenues comes from third-party advertisers and Google type advertising.
Given Zillow has raised US$87m and Trulia recently raised another US$15m, Globrix will need access to a strong line of funding if it is to have any chance to make an indent on the US market as even a well-backed website like globrix.com might find the US a challenge right now.
After success in the UK and South Africa, a crowded market and the sub-prime slump meant that dothomes.com failed to make much of a mark when it launched in the US in January 2008.
Will globrix.com suffer the same fate?
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- globrix Takes On Europe and Sth America
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- News Corp Says No to Investing in REA Group
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- Founders Buy back globrix.com
The founders of UK property search engine globrix.com have bought back News International’s 50 percent stake in the business for an undisclosed sum. The move comes after globrix.com launched an Irish version of the website, globrix.ie, in September this year. According to the globrix.com blog, founders Dan Lee and Ian Parry now own 100 percent of the business....
- 3 DotHomes Websites For Sale
BytePlay is selling off its "DotHomes" family of real estate search engines, which includes three websites in three countries: dothomes.co.uk, dothomes.co.za and dothomes.com. ...
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Would anyone know the reason why Rightmove does not publish banner advertising on their site?
Approximately 3M monthly unique visitors and almost unbelievable 40 pageviews per visit (correct me if I’m mistaken) would mean approximately 200M pageviews. With, say 2 ads per page both at $1 CPM, means $5M extra revenues p.a.
Especially now that the revenues from monthly subscriptions by agencies are falling.
So why they have chosen not to add display ads?