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?
- The Times Online Dumps Propertyfinder.com in Favour of Globrix
Last week, in a surprise and rather strange decision, News International in the UK dumped its 79% owned propertyfinder.com as search providers on timesonline.co.uk for the 50% owned globrix.com. Read on for more about this decision ... ...
- globrix Takes On Europe and Sth America
UK based property search engine globrix.com is set to take on new markets further afield in the new year, with Europe, the US and South and Central America on the list....
- globrix.com and Vebra Reach Agreement
Free-to-list real estate search engine globrix.com announced on Friday that negotiations have concluded with Vebra, bringing to an end the software provider’s block on the globrix.com crawler....
- TomTom Enters Online Mapping
TomTom, known for its popular GPS, has launched an online mapping solution. ...
- News Corp Increases Stake in REA Group
News Limited, the Australian subsidiary of News Corp, has increased its stake in realestate.com.au Ltd to 60.7%. ...
Related posts brought to you by Yet Another Related Posts Plugin.
Loading ...
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?