propertyfinder.com

propertyfinder.com is the second of the UK’s “Big 4″ property portals. It was begun in 1995 and has been owned by the REA Group and News Limited since 2005.

It receives over 1.9 million unique visitors every month and lists over 350,000 properties from just under 4,000 estate agency offices.

Ownership | Market Position | Key Measurements | Market Coverage | Advertising Model | Financials | Site Sections | Technology | Key Management | History | Recent Press | Information Sources

Ownership

propertyfinder.com was acquired by the REA Group and News International in 2005. REA group is listed on the Australian stock exchange as realestate.com.au Limited (ASX:REA). The REA Group is 58% owned by News Corporation through its subsidiary News Limited in Australia.

Market Position

propertyfinder.com is the second of the Big 4 UK portals (ComScore MediaMetrix September 2008) behind rightmove.co.uk who enjoys a strong lead.

Key Measurements
(December 2008)

propertyfinder.com claims to be the UK’s fastest-growing property portal with over 1.9 million unique visitors every month. It is the second most popular major property portal in the UK with over 350,000 properties from just under 4,000 estate agency offices.

Market Coverage

UK wide, plus overseas listings.

Advertising Model

Pay-to-list subscriptions for real estate agents, plus display advertising from third parties.

Financials

Unknown.

Site Sections



The key sections of the website are:

• buy
• rent
• share
• find agents
• new homes
• resources
• overseas

Technology

Unknown.

Key Management

The key management are:

• Gillian Kent – GM United Kingdom

History

Established in 1995, propertyfinder.com has been servicing the property industry for longer than any other online advertising business.

propertyfinder.com was acquired by the REA Group and and News International in November 2005 as part of the REA Group’s international expansion.

The REA Group have since purchased two other UK based portals: ukpropertyshop.co.uk and hotproperty.co.uk.

In August 2008 the Times switched from using propertyfinder.com as its property search engine to using globrix.com. News International, the publisher of The Times and The Times Online is a 50% owner of both propertyfinder.com and globrix.com.

In October 2008 the portal launched a mobile version of the website, and also launched a “premium” portal designed to hit the top end of the property market, and potentially take on primelocation.com: propertyfinder.com/premium.

Recent Press

Press releases are listed on the press section of the website, and the company also hosts several blogs. REA Group press releases are listed on the REA Group website.

Information Sources

Site Review

1. 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 ... ...

2. Could a Management Buy Out Save Propertyfinder?

   As reported last week, the REA Group and News International are considering closing Propertyfinder, its UK operations. Since then Nick Leeming, the Founder and Major Accounts Director of Propertyfinder, has been reported as saying that the management team, lead by CEO Gillian Kent, are mounting a rear guard action to save the business by putting together a MBO (Management Buy Out) plan. The clock is now ticking for the Propertyfinder management team as the REA Group stated that the review of the UK operations would last only 40 days. Assuming a plan can be assembled in time, what is the plan likely to look like and could a revamped Propertyfinder be profitable?...

3. Why rightmove should acquire propertyfinder

   Times are tough in the UK market at the moment and it seems to me that the best value creating play would be a merger of rightmove and propertyfinder and therefore increase the gap between rightmove and the rest of the market....

4. Propertyfinder MBO Fails But …

   The much talked about management buyout of propertfinder.com in the UK has failed however a new mystery buyer has emerged. In a late announcement on the ASX, the REA Group & News International have entered into a non-binding heads of agreement for the potential sale of their UK online business. Internal sources say there were three “very detailed and strong bids” however the while the existing management put in a “very impressive bid”, they were not the preferred option. A period of exclusivity has been entered with the preferred bidder so that they can undertake due diligence and the identity of the preferred bidder might be revealed as soon as the end of next week. Given the comment in the ASX release that “if this transaction successfully proceeds to completion, it is unlikely to have any impact on the guidance (already) provided”, the offer being considered is likely to be small. The REA Group and News International have also kept the door open to close the business or just sell the assets to the preferred bidder as they continue the consultation process with staff – a prelude to closure. So who is the mystery bidder?...

5. REA Group Sells Stake in propertyfinder.ae

   The REA Group has exited the Dubai market by selling its 51% stake in propertyfinder.ae to its joint venture partner, the Swiss Media Group. The REA Group purchased 51% of Propertyfinder.ae in October 2007 with the objective of driving strong growth on online real estate advertising in the Gulf Region. The sales continues the retreat of the REA Group to its core Australian business....