Zoopla Completes PropertyFinder Group Buy-Out


Property listings site Zoopla.co.uk has bought out PropertyFinder Group from its joint owners News International and the Australian REA Group. That means that a PropertyFinder management buy-out, led by CEO and former MSN UK head Gillian Kent, has come to nothing. The terms of the acquisition aren’t disclosed, but NI and REA bought the site for £14 million in 2005 and it’s fair to say this deal see far less money changing hands. It’s the second big buy from Zoopla recently: last month the company bought Thinkproperty.com from Guardian Media Group.

PropertyFinder has around 2.3 million unique monthly users and makes almost £7 million a year in revenue but is loss-making. The businesses includes PropertyFinder.co.uk, HotProperty.co.uk and UKPropertyshop.co.uk. Zoopla adds in the release that PropertyFinder — helped by its former owners’ business links — has a range of online partnerships with MSN, Yahoo (NSDQ: YHOO), Guardian.co.uk, BSkyB (NYSE: BSY), Virgin Media (NSDQ: VMED) and others.

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