What Recession? Property-Tracking Site Zoopla Raises £3.75 Million VC Funding


imageThe boom is over, but it seems at least someone still has confidence in the housing sector: property database Zoopla.co.uk has raised £3.75 million in VC funding in a round led by Atlas Venture and Octopus Ventures less than a year after its launch. Despite the downturn in property buying and selling, Zoopla has grown its traffic to become one of the top-five most visited property sites with five million visits and 40 million page views so far, according to Nielsen. The site has raised almost £5.5 million to date and the new money will be spent on recruitment, improving technology and marketing.

UK house prices fell 1.9 percent in the first half of January, the eight consecutive month house price drop year on year (via WSJ.com) as the country struggles with the aftermath of a long, unsustainable housing boom. Zoopla holds public data such as average house prices for specific areas as well as price estimates on individual properties — so maybe homeowners desperate to sell could do with the extra information to make a sale happen. The site is soon to launch a paid-for database of estate agents.


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