How Zoopla Helps Rightmove and Did DMGT Get it Wrong?
August 16, 2009 by Simon Baker · 4 Comments
Over the last month Zoopla has clearly signalled to the market its intent to be a major player in the UK property portal market. It has snapped up Thinkproperty and Propertyfinder to clearly position itself in the top three UK portal businesses behind market leader Rightmove and DMGT’s The Digital Property Group.
In the process there have been some winners and some losers. However, it is Rightmove who is likely to gain the most from this move while questions have to be asked if DMGT truly missed a game changing opportunity.
Read more
rightmove.co.uk Releases iPhone App
August 4, 2009 by Emma Sorensen · 5 Comments
UK market leading property portal, rightmove.co.uk, today joins the host of other portals launching a new iPhone app for mobile property searches.
Read more
Zoopla Confirmed as Potential Propertyfinder Buyer
July 1, 2009 by Simon Baker · 7 Comments
Last week it was revealed that the Propertyfinder’s management buy out attempt had failed and that the REA Group and News International had entered into a heads of agreement with a mystery party. This mystery party has now been confirmed as being Zoopla.
Zoopla is a relatively new entrant to the UK online real estate market having initially launched a site around home prices and more recently moving into advertising homes for sale in the UK using the pay per lead model. Earlier this year Zoopla closed out a £3.75m capital raising. Check out our coverage of Zoopla over the last year.
On reflection, this deal makes sense by providing Zoopla with a boost into being a serious competitor in the market and it gives propertyfinder.com and its team a new lease on life.
Propertyfinder MBO Fails But …
June 26, 2009 by Simon Baker · 8 Comments
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?
Could a Management Buy Out Save Propertyfinder?
June 1, 2009 by Simon Baker · 3 Comments
.
.
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?
rightmove.co.uk Trial £95 Premium Listing
May 25, 2009 by Emma Sorensen · Leave a Comment
A press release from rightmove.co.uk says the UK market leader will be launching a Beta version of its website on 8 June 2009. The Beta site is to trial sellers’ and agents’ response to a publicised suggested retail price of £95 for upgrading their property to its Premium Listing advert for a month.
Read more
Countrywide Renews With rightmove.co.uk
April 16, 2009 by Alice Allan · 1 Comment
UK estate agency group Countrywide plc has renewed its agreement with the UK’s number one portal rightmove.co.uk. Countrywide will list all its offices on the portal until 2012.
Read more
Resignation of Rightmove Director
April 14, 2009 by Emma Sorensen · Leave a Comment
rightmove.co.uk has announced that Graham Zacharias has stepped down from the Board of Rightmove plc.
Read more
Rightmove Delivers Great Results As the Business Slows
February 28, 2009 by Simon Baker · 2 Comments
The Rightmove full year 2008 results show a year on year increase in revenues of 30.6% from £56.7m to £74m. In addition, they also increased profit by 36.8% from £18.6m to £25.5m. The underlying profit margin increased slightly from 33% to 34%. On the surface, these look like fantastic results, especially given the underlying market conditions. However closer analysis shows that the business will face some more challenging times in during 2009.
Is Rightmove a Takeover Target?
February 19, 2009 by Simon Baker · 1 Comment
An article appeared recently from Estate Agent Today speculating that rightmove.co.uk could be ripe for a takeover bid. The article discusses a report by an investment broker Teathers, who is rating the stock as a “buy” and is tipping the purchase of shares in Rightmove. Given the state of the market, the position and historic performance of rightmove, and the depressed state of its share price, it appears that Rightmove could be a good acquisition target. Here are our thoughts.
Loading ...
