Free-to-list property site Globrix is selling on the 50 percent of their company that News International didn’t want – to another newspaper company, Associated Northcliffe Digital (AND).
News Int. made a “multi-million” investment in the site, which wants to fund itself with “Google-style” keyword ads, pre-launch in October 2007, but last year decided to exit the property search market, selling its stake in Propertyfinder to Zoopla and its half-share of Globrix back to its founders.
AND will put Globrix in its Digital Property Group (including Findaproperty, Primelocation and Findahome), which will offer its services to estate agents and developers. No sale price or terms disclosed.
This puts clear blue water between two of our major news publishers on online property – NI retreating from the sector and AND parent DMGT embracing it further.
Globrix claims to be the UK’s “largest free-to-list property search engine” and have the largest online stock of property listings. But, with no income from those listings themselves, it’s unclear (we have no figures) how successfully Globrix is monetising its sale of sidebar and banner ads to financial services companies, conveyancing companies, homebuilders etc. True to say, ads are there, however. AND says Globrix will remain free-to-list.