A newspaper claims that easyProperty - currently an online lettings-only agency but expanding into online sales next year - is considering floating on the stock market.
The Express says easyProperty recently raised £14.5m from backers including private equity veteran Jon Moulton, and is considering selling a minority stake to venture capital investors to raise further cash.
We may look to float at the end of 2015 or the beginning of 2016, or a stake sale, to fund growth. In either case we would retain a majority stake says the agency's chief executive Rob Ellis.
The paper says the firm is valued at £60 million and plans to expand to France, Germany, Spain, Italy, Holland and Greece.
We'll also consider acquisitions and we're looking to launch into commercial property next year. We plan to be the dominant player in the online estate agency sector says Ellis.
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Comments
The on-line letting market, in my opinion, market only has a fairly fixed number of potential Customers. Most Landlords (in my experience) prefer the hands-on approach - i.e. the high street agent who meets the applicants on a number of occasions before the eventual let and can judge their character and feed back to the Landlord the reassurrance that they are getting a good tenant.
Letting a property today is the easy bit - getting the right tenants and providing a professional management service is more important to most Landlords.
So I feel Easyproperty will get business but I don't think they will recruit Landlords from the non on-line market. They will just take business from other on-line agents.
Dead in the water is what I say.
I don't think they've kicked off have they. No advertising on the net/TV etc
9.99 to list a property... 6 properties listed in Manchester, 6 in Liverpool, 2 in Bristol, 6 in Birminghan and 4 in Newcastle... Am I missing something here
Well that's a load of spin!
Sounds like another boo.com
Overinflated hype that goes Pop
Who did the due diligence on this investment
A value of 60 million and probably only a handful of lets so far I doubt it.