Posted by: housingdabble | August 7, 2009

Zoopla continue shopping spree

Zoopla.co.uk, have today announced the completed acquisition of the PropertyFinder Group from News International Ltd and the REA Group, for an undisclosed sum.

This deal has been going on for some weeks now and isn’t a huge surprise, although it remains to be seen how they will now bring a multitude of sites together to form one powerful competitor to Rightmove.  The PropertyFinder Group includes propertyfinder.com, one of the best-known and most-visited property websites in the country, with over 2 million unique visitors per month as well as other online property assets including HotProperty.co.uk and UKPropertyshop.co.uk. Zoopla only recently completed the purchase of ThinkProperty.com from Guardian Media Group.

Zoopla confirm that they will take over and integrate the propertyfinder.com and other websites, benefiting from an additional 3 million unique visitors a month. The combined group will power an impressive range of property partnerships with leading UK websites including MSN, Yahoo!, AOL, Guardian, Tiscali, Sky and Virgin amongst others.

The acquisition is a coup for relative newcomer Zoopla, taking over one of the most-established players in the market, propertyfinder.com, acquired by News International Ltd and REA Group in late 2005 along with HotProperty.co.uk and UKPropertyShop.co.uk that were added to the group last year.

Having only launched early 2008, Zoopla are clearly being very aggressive in makig their mark on the UK property portal market and have been successful earlier this year in raising more funds, quite unique in the present climate.

The Zoopla boss Alex Chesterman will take over at the helm of Propertyfinder, whilst co-founder Nick Leeming stays on. Former Propertyfinder CEO Gillian Kent is understood to have left the business.

Alex Chesterman said: This is a transformational deal both for our business and for the online property landscape in the UK. Our organic growth over the past year has been exceptional but this acquisition is a great fit for us and will accelerate us significantly towards our goal of becoming the most efficient marketing partner for UK estate agents by providing them the widest possible exposure and best value online marketing services.”


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Categories

%d bloggers like this: