Zoopla for sale has been understood as an initial price of around 500 million, it is understood.
City AM reports that the property portal has been put on the market for Silver Lake Partners, which has owned the group, is part of after an agreement of £ 1.6 billion in 2018, which at that time included the tastes of confused and USWITCH, as well as Primelocation, Money.co
The news of the possible sale of Zopla originates in an episode of The Home Front Property Podcast with Russell Quirk.
Zoopla declined to comment when he approached him to comment.
Zoople had obtained profits in 2023 when his sales passed the £ 90 million brand.
The accounts with Companies House revealed that the business increased to a profit gain of £ 18.7 million in 2023, after having informed a loss before taxes of £ 6.2 million in the previous 12 months.
However, a number or work cuts were made, as reported by the eyes.
The zoopla parent company recently reduced its loss before taxes in almost 600m in 2023.
The organization reported a loss before taxes of £ 134.9 million for its last financial year after publishing a loss of £ 714.6 million in 2022. Group’s revenues also increased from £ 391 million to £ 451.5m over the same period.
Duration 2023 The Group’s Property Division renamed Houseful.
Reflecting on the news that Zoople is on sale, Shaun Adams of the real estate agents of Cooper Adams, said: “[The news] It only reinforces what many of us in the industry are saying for years: the market portal market of the United Kingdom is broken, unbalanced and very stacted against independent agents.
“Zoople, once seen as the main competitor of Rightmove, is now being sold by its owners, Silver Lake Partners. This follows years of consolidation, corporate packaging and prioritization of the value of the shareholders, continues continues.
“It is no longer a preference of the portal: it is the domain of the market, the exploitation of prices and the fact that many agents feel trapped, with few options and even less say.
“The sale of Zopla highlights the lack of a genuine competition in the space of the portal. When one of the” large three “is being considered as a corporate asset and the other behaves like a monopoly, it is clear that the system is not serving the industry, or the public, fairly.”
