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Zoopla

Zoopla Property Group plc
Type Public
Traded as LSE: ZPLA
Industry Internet, real estate
Founded January 2008
Founders Alex Chesterman
Simon Kain
Headquarters London, United Kingdom
Key people Mike Evans, Chairman
Alex Chesterman, CEO
Services Property search and research
Revenue £64.5 million (2013)[1]
Operating income £28.0 million (2013)[1]
Net income £22.3 million (2013)[1]
Owners Daily Mail and General Trust
Website www.zoopla.co.uk

Zoopla (Zoopla PLC) is a British property website covering the residential property market, owned by Daily Mail and General Trust.[2][3] Zoopla focuses on providing users with access to information such as sold house prices, area trends & statistics and current value estimates for domestic properties in the UK. Zoopla is the second biggest property website in the UK, its larger rival is Rightmove. Zoopla PLC is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

  • Operations 1
  • History 2
  • Corporate Ownership 3
  • References 4
  • External links 5

Operations

Zoopla is a searchable directory of UK residential properties using various sources like the Royal Mail's postcode database, the UK HM Land Registry's data on property transactions, Google maps, and other data sources.

Based on this data, Zoopla has developed an automated valuation model or algorithm that provides a computed valuation estimate for any property in the UK. This AVM is partly based on property attributes, transactions from the Land Registry and analysis of historical price trends. Zoopla also allows users to claim their home or set a TemptMe price, similar to US website Zillow. The accuracy of Zoopla's computed valuations is disputed.[4][5]

In July 2010, Zoopla released an iPhone app.

History

Zoopla was founded in 2007 or 2008 by Alex Chesterman, who also founded ScreenSelect (later LoveFilm) and Simon Kain, LoveFilm CTO.[6]

The Zoopla website had 1.6 million visitors in March 2010,[7] making it the second largest property website in the UK, behind market-leader Rightmove.

Zoopla have sponsored West Bromwich Albion Football Club since 2012.[8] In January 2014, founder Alex Chesterman, who is Jewish, decided to remove support or thee club after an allegedly anti-Semitic gesture from player Nicolas Anelka made headlines.[9]

Corporate Ownership

Zoopla is backed by Atlas Venture, Octopus Ventures and other investors.[10][11]

In July 2009, Zoopla acquired property website Thinkproperty.com from the Guardian Media Group.[12]

In August 2009, Zoopla acquired the PropertyFinder Group, consisting of the websites Propertyfinder.com, Hotproperty.co.uk and UK Property Shop, with combined annual revenues of £7M, from prior owners the REA Group and News International for an undisclosed sum.[13]

Footballer Youssouf Mulumbu wearing a West Bromwich Albion shirt endorsed by Zoopla in 2013

In October 2011 Zoopla and Digital Property Group, the subsidiary of A&N Media which operates property websites Primelocation.com, Globrix.com and FindaProperty.com, merged their respective businesses andin May 2012, Zoopla acquired property information website UpMyStreet.com.[14] and in June 2012 formed Zoopla Property Group Ltd.[15]

In December 2012, Zoopla acquired property information website Globrix.com.[16]

In Spring 2013, Stephen Morana, formerly of Betfair Group Plc, was appointed new Chief Financial Officer (CFO).[17]

Zoopla's owner, the Daily Mail and General Trust began to float Zoopla on the stock market in June 2014.[18]

References

  1. ^ a b c "Prospectus". Zoopla. Retrieved 8 September 2014. 
  2. ^ https://uk.finance.yahoo.com/news/zoopla-ipo-decent-result-dmgt-000000696.html
  3. ^ http://www.theguardian.com/media/2014/may/22/dmgt-float-zoopla-daily-mail-jobsite
  4. ^ https://www.lovemoney.com/news/1804/whats-your-property-worth
  5. ^ http://old.estateagenttoday.co.uk/news_features/Online-valuation-tools-Are-they-help-or-hindrance
  6. ^ "About Zoopla!". Retrieved 2008-07-26. 
  7. ^ Nielsen NetRatings, March 2010
  8. ^ "West Bromwich Albion". Historical Football Kits. Retrieved 2 February 2014. 
  9. ^ "Nicolas Anelka: West Brom sponsor Zoopla to end deal".  
  10. ^ "Our portfolio – Zoopla". Retrieved 2008-07-26. 
  11. ^ "Business Digest". The Times (London). 2009-01-18. Retrieved 2009-01-18. 
  12. ^ Sweney, Mark (2009-07-15). "Zoopla buys Thinkproperty.com from Guardian Media Group". The Guardian (London). Retrieved 2009-07-28. 
  13. ^ Sweney, Mark (2009-08-07). "News International sells PropertyFinder website to Zoopla.co.uk". The Guardian (London). Retrieved 2009-08-08. 
  14. ^ "Zoopla acquires UpMyStreet.com – Zoopla". Retrieved 2012-11-08. 
  15. ^ "Zoopla and Digital Property Group merger completes". 1 June 2012. Retrieved 8 September 2014. 
  16. ^ "Zoopla acquires Globrix as it steps up battle against Rightmove". Estate Agent Today. Retrieved 8 September 2013. 
  17. ^ "Zoopla Property Group taps Stephen Moran as new CFO". CFO Insight. 
  18. ^ "Zoopla float to value property website at £919m". The Guardian. 18 June 2014. Retrieved 8 September 2014. 

External links

  • Official website
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