Feeds

Brit online property bazaar Zoopla ponders BILLION-pound flotation

Could net founder Alex Chesterman £100m, allow him to buy SEVERAL houses in London

Designing a Defense for Mobile Applications

British online property portal Zoopla is reportedly considering a stock market listing that could value it at £1.3bn.

The UK's second-biggest property search website by page views is looking for new ways to compete with its main rival, Rightmove, and has appointed investment bank Credit Suisse to help it assess its strategy.

"As one of the the fastest growing online businesses in the UK, our focus is on continuing to develop our brands and business in a sustainable way as demonstrated by ours latest acquisition this week of SmartNewHomes.co.uk, the UK's leading new homes portal," a spokesperson told The Register in an emailed statement. "We work with various advisers and have recently engaged Credit Suisse to help us explore further strategic opportunities as we continue to grow."

Going public could value Zoopla at up to £1.3bn, or 50 times this year's earnings before interest, tax, amortisation and depreciation, according to a report (paywalled) in The Sunday Times. If it manages to bag that kind of cash from investors, founder Alex Chesterman stands to get a windfall of around £100m.

Despite the economic downturn's pressure on the property market in Blighty, Zoopla appears to be doing well. Last week it acquired SmartNewHomes.co.uk, along with three other property portals from newspaper group Trinity Mirror. It also launched a new multimillion pound TV advertising campaign.

Rival portal Rightmove still dominates the market, ranking as the sixth most visited website in the whole of Britain – even ahead of the BBC News site, according to a list published by Experian Hitwise in January. ®

The smart choice: opportunity from uncertainty

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.