O3 Industries and Novum Capital have sold their stake in Gumtree.com Ltd to Asian private equity firm Ocean Link and its portfolio company 58.com. The deal, which went into effect in September 2024, was confirmed by Novum Capital but not publicly announced by Gumtree U.K.
O3 Industries and Novum Capital originally acquired Gumtree and Motors.co.uk from Adevinta in 2021. Since then, Motors.co.uk has become independent, acquiring Cazoo in June 2024, while Gumtree has focused on tech investments. “The acquisition by the new owner demonstrates Gumtree’s potential,” said O3 Industries President Daniel Ozen.
58.com operates the leading Chinese real estate vertical by traffic and also one of the world's most visited generalist classifieds marketplaces.
While Gumtree is not known primarily as a real estate marketplace, it does have around 15,000 rental listings on its UK site.
The Malaysia-based marketplace operator Frontier Digital Ventures has revealed that it saw 3% revenue growth in 2024 while EBITDA shrunk...
Read More
Swedish real estate portal operator Hemnet has released its interim report for the final quarter of 2024, boasting typically strong...
Read More
We'll start this week's roundup in Asia, where REA India is investing heavily in AI and virtual staging... Asia:...
Read More
This week's investment and funding roundup starts with an interesting partnership in the UK that will see American #2 CoStar...
Read More
