Axel Springer, a media company that runs property portals, is aiming its attention on hybrid agents.
Only recently did the company put a £125m investment in Purplebricks while joining the property portal to help acquire Homeday, a German estate agency. The two companies had also announced they would be joining to create a new joint company, NewCo, to aide in the Homeday acquisition further by buying a 22% stake in the German company.
Axel Springer last March paid £125m for an 11.5% stake in Purplebricks, paying £3.60 a share.
It later upped its stake to 12.5%, buying 3m more shares at £3.07 each in July.
Most recently, the shares were worth a lot less than Axel Springer paid, finishing the day at about 163p.
Read more here
Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.
There is no standard definition for what constitutes a pre-market property. Listings advertised as off-market are regularly actually in the...
Read More
Following the acquisition of the Spanish real estate portal Pisos.com last month, Immobiliare.it has announced that it has combined listing...
Read More
Move Inc., the parent company behind Realtor.com, has withdrawn a lawsuit against CoStar Group after months of back and forth...
Read More
CoStar has announced a significant shake-up at the board level and quietly signaled that Homes.com will be included as part...
Read More
