Rightmove

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Rightmove plc
Type Public
Traded as LSERMV
Industry Internet & Real Estate
Founded 2000
Headquarters London, UK
Key people Scott Forbes (Chairman)
Edmund Williams (Managing Director)
Miles Shipside (Commercial Director)
Revenue £139.9 million (2013)[1]
Operating income £97.0 million (2013)[1]
Net income £74.3 million (2013)[1]
Website www.rightmove.co.uk

Rightmove plc is a UK-based company that runs www.rightmove.co.uk, an online real estate portal. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

The company[edit]

The Company was created in 2000 as a joint venture between four of the UK's largest property agents: Halifax, Countrywide plc, Royal & Sun Alliance, & Connells under the name Rightmove.co.uk Limited.[2] It was first listed on the London Stock Exchange on 15th March 2006 at which time it became Rightmove plc.[3]

In 2007 it bought 67% of Holiday Lettings Limited.[2]

In May 2008, HBOS, one of the founding investors, sold its stake in Rightmove.[4]

Operation[edit]

Rightmove makes money from listing estate agents on its website and offering additional advertising products to those agents. The ads are visible to users who search for the area chosen by the estate agent. Individuals selling property privately (i.e. directly without an agent) are prohibited from advertising on the site. Each month, Rightmove release a House Price Index, illustrating any changes in the asking prices of house throughout England and Wales.[5]

References[edit]

  1. ^ a b c Preliminary Results 2013
  2. ^ a b Rightmove: History
  3. ^ The Financial Times (2006-03-10). "Pricing of IPO values Company at £425m". Retrieved 2009-05-04. 
  4. ^ The Independent (2008-05-17). "HBOS sells stake in Rightmove". Retrieved 2008-05-17. 
  5. ^ House price index

External links[edit]