Axel Springer with Purplebricks to focus on 'hybrid agents'

January 13, 2019
Share this Post: 

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

Jpmorgzedited
JP Morgan Global Online Classifieds Report 2024: Key Highlights Include REA, Scout24 and Rightmove

JP Morgan released its Global Online Classifieds report in November 2024, with marketplace giants REA Group and Scout24 SE both...

Read More
News Roundup 13Dec 1
News Roundup: LeBonCoin, Scout24, Dubizzle, Emlakjet, SearchSmartly

As the year draws to its inevitable close and holiday spirit takes over, a slow news cycle means we are...

Read More
All Uk Portals London 2
UK Roundup: Rightmove, Zoopla and OnTheMarket All Make Announcements

In the United Kingdom, Rightmove and Zoopla have both announced advertising campaigns while OnTheMarket has released its annual review for...

Read More
Zoopla Header 1 3
"AI is a Game-Changer, and We're Obsessed", says Zoopla COO Rich Hayes

In the final part of Online Marketplaces' exclusive interview with Zoopla CEO Charlie Bryant and COO Rich Hayes, we zoom...

Read More

Editor's Pick