Axel Springer with Purplebricks to focus on 'hybrid agents'

January 13, 2019

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.

Property Portal Watch Bangkok Conference 2019, March 19-21

January 13, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Developer Generic Background
Product Roundup: Hemnet, Green Acres, FazWaz, Property Sorted and Leboncoin

Here are the product and services updates we've spotted coming from real estate marketplaces around the world this week...  ...

Read More
Affordability Calculators 1 1
Affordability Fears Are Growing – Are Real Estate Portals Paying Attention?

Only around 40% of listings on Zillow are affordable. Or, to put it another way, only around 40% of properties...

Read More
People Roundup Hero Image 3 April 25 2
People on the Move Roundup: REW, ImmoScout24 and REA India

This week's roundup of real estate marketplace comings and goings features executives on the move in Canada, Germany and India......

Read More
Cooperrocketacq 3
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More

Editor's Pick