Zoopla

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Zoopla Property Group plc
Type Public
Traded as LSEZPLA
Industry Internet, real estate
Founded January 2008
Founders Alex Chesterman
Simon Kain
Headquarters London, United Kingdom
Key people Mike Evans, Chairman
Alex Chesterman, CEO
Services Property search and research
Revenue £64.5 million (2013)[1]
Operating income £28.0 million (2013)[1]
Net income £22.3 million (2013)[1]
Website www.zoopla.co.uk

Zoopla (also Zoopla.co.uk) is a property website covering the British residential property market. The site also enables users to access information such as sold house prices, area trends and statistics, and current value estimates for domestic properties in the UK. Zoopla is the second biggest property website in the UK: its main rival is Rightmove. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

Zoopla was founded in 2007 by Alex Chesterman, who also founded ScreenSelect / LoveFilm and Simon Kain, former senior developer at Bookpages / Amazon UK and LoveFilm CTO.[2] The website was launched in January 2008. In June 2008, they hired Doug Monro, former Managing Director of Gumtree, as Chief Operating Officer.,[3] who subsequently left to found Adzuna[4] in 2011. The company is based in Southwark, London. In October 2013, the company announced that it was moving all 200+ staff to a larger office in the Harlequin Building, also in Southwark.[5]

The website had 1.6 million visitors in March 2010,[6] making it the second largest property website in the UK behind market leader Rightmove.

Zoopla have been quoted in the UK press in a number of articles based on their data, such as the UK Property Rich List[7] and comments on the value of various celebrity homes.[8] There has also been some debate over the ethics of property porn and property snooping.[9][10]

Zoopla is backed by Atlas Venture, Octopus Ventures and other investors.[11][12]

In July 2009, Zoopla acquired property website Thinkproperty.com from the Guardian Media Group.[13]

In August 2009, Zoopla acquired the PropertyFinder Group, consisting of the websites Propertyfinder.com, Hotproperty.co.uk and UK Property Shop, with combined annual revenues of £7M, from prior owners the REA Group and News International for an undisclosed sum.[14]

In July 2010, Zoopla acquired property technology company Byteplay.[15]

Footballer Youssouf Mulumbu wearing a West Bromwich Albion shirt endorsed by Zoopla in 2013

In August 2010, Zoopla launched its first television advertising campaign. The humorous campaign compares finding the perfect property with finding the perfect partner, showing a number of people discussing the house-buying process in terms that could be used to describe a relationship.[16]

In 2010 Zoopla was named in the Startups 100 awards as one of the UK's most innovative, inspiring and ground-breaking new companies.[17]

In October 2011 Zoopla and Digital Property Group, the subsidiary of A&N Media which operates property websites Primelocation.com, Globrix.com and FindaProperty.com announced plans to merge their respective businesses.

In May 2012, Zoopla acquired property information website UpMyStreet.com.[18]

In June 2012 Zoopla and Digital Property Group merger completes forming Zoopla Property Group Ltd.[19]

In December 2012, Zoopla acquired property information website Globrix.com.[20]

In Spring 2013, Stephen Morana, who spent around 10 years at the Betfair Group Plc, was appointed new Chief Financial Officer (CFO).[21]

In September 2013, Zoopla bought Trinity Mirror's four property websites for £3.3 million.[22]

Zoopla have been sponsors of West Bromwich Albion Football Club since 2012.[23] In January 2014, founder Alex Chesterman, who is Jewish, decided to stop supporting the club after an allegedly anti-Semitic gesture from player Nicolas Anelka.[24]

The company was the subject of an initial public offering in June 2014.[25]

Operations[edit]

The Zoopla site is a searchable directory of UK residential properties, created using Royal Mail's database, the UK HM Land Registry's data on property transactions, Google maps, Microsoft maps' "bird's eye view", and other data sources. The data is then presented in a read-write format, so that user-generated content can "fill in the gaps".

Based on this data, Zoopla has developed an automated valuation model or algorithm that allows the site to provide an instant valuation estimate for any property in the UK, similar to competitors Mouseprice and Hometrack. The AVM is based on user-added information such as property attributes, transactions from the Land Registry, and analysis of historical price trends. The site also allows users to claim their home or set a TemptMe price (a price at which they could be tempted to sell).

In July 2010, Zoopla also made a similar new service as an iPhone application including GPS-based property searches and augmented reality camera view.

References[edit]

  1. ^ a b c "Prospectus". Zoopla. Retrieved 8 September 2014. 
  2. ^ "About Zoopla!". Retrieved 2008-07-26. 
  3. ^ "Gumtree MD Monro heads to property site". Retrieved 2008-07-26. 
  4. ^ "Zoopla COO Starts Search Engine". Retrieved 2011-09-01. 
  5. ^ "Zoopla moves to a bigger home". Retrieved 2013-10-31. 
  6. ^ Nielsen NetRatings, March 2010
  7. ^ "Zoopla UK Property Rich List". Retrieved 2008-07-26. 
  8. ^ Smart, Gordon (2008-06-25). "Madge and Guys's separate rooms". The Sun (London). Retrieved 2008-07-26. 
  9. ^ Woods, Judith (2008-03-07). "Find out what next door's house is really worth". The Daily Telegraph (London). Retrieved 2008-07-26. 
  10. ^ Bridge, Mark (2008-03-27). "Are you a Zoopla! snooper?". The Times (London). Retrieved 2008-07-26. 
  11. ^ "Our portfolio - Zoopla". Retrieved 2008-07-26. 
  12. ^ "Business Digest". The Times (London). 2009-01-18. Retrieved 2009-01-18. 
  13. ^ Sweney, Mark (2009-07-15). "Zoopla buys Thinkproperty.com from Guardian Media Group". The Guardian (London). Retrieved 2009-07-28. 
  14. ^ Sweney, Mark (2009-08-07). "News International sells PropertyFinder website to Zoopla.co.uk". The Guardian (London). Retrieved 2009-08-08. 
  15. ^ Gallagher, Matt (2010-08-04). "Zoopla Land Grab". Red Herring. Retrieved 2010-08-27. 
  16. ^ Whitehead, Jennifer (2010-08-25). "Zoopla launches its first TV campaign". Campaign (London). Retrieved 2010-08-27. 
  17. ^ "Startups 100 2010 - the complete list". Retrieved 2014-04-03. 
  18. ^ "Zoopla acquires UpMyStreet.com - Zoopla". Retrieved 2012-11-08. 
  19. ^ "Zoopla and Digital Property Group merger completes". 1 June 2012. Retrieved 8 September 2014. 
  20. ^ "Zoopla acquires Globrix as it steps up battle against Rightmove". Estate Agent Today. Retrieved 8 September 2013. 
  21. ^ "Zoopla Property Group taps Stephen Moran as new CFO". CFO Insight. 
  22. ^ Cookson, R. "Zoopla buys property websites from Trinity Mirror for £3.3m". Financial Times. Retrieved 8 September 2013. 
  23. ^ "West Bromwich Albion". Historical Football Kits. Retrieved 2 February 2014. 
  24. ^ "Nicolas Anelka: West Brom sponsor Zoopla to end deal". BBC Sport. 20 January 2014. Retrieved 2 February 2014. 
  25. ^ "Zoopla float to value property website at £919m". The Guardian. 18 June 2014. Retrieved 8 September 2014. 

External links[edit]