Zoopla.co.uk challenges Rightmove with acquisition of Propertyfinder Group

Permalink: Zoopla.co.uk challenges Rightmove with acquisition of Propertyfinder Group
by Kay Murchie

Zoopla.co.uk, the online property website, has announced it has completed its acquisition of PropertyFinder Group from News International Ltd and the REA Group.

The PropertyFinder Group includes propertyfinder.com, which is one of the best-known and popular property websites, with more than 2 million unique visitors per month.

The latest announcement comes just two weeks after Zoopla.co.uk revealed its acquisition of ThinkProperty.com from Guardian Media Group.

The acquisition of the PropertyFinder Group will undoubtedly challenge the market leader, Rightmove as the terms of the deal will see Zoopla.co.uk take over and integrate the propertyfinder.com and other websites, benefiting from an additional 3 million unique visitors a month.

Commenting on the acquisition, Alex Chesterman, founder and CEO of Zoopla.co.uk said: “This is a transformational deal both for our business and for the online property landscape in the UK. Our organic growth over the past year has been exceptional but this acquisition is a great fit for us and will accelerate us significantly towards our goal of becoming the most efficient marketing partner for UK estate agents by providing them the widest possible exposure and best value online marketing services.”

Zoopla.co.uk was launched in January 2008 and has announced record growth despite a slump in the property market and has won many awards, including the ‘UK’s Most Promising Internet Company 2008′.