Domain Group

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Domain Group
Public company
Traded as(ASX – DHG)
IndustryReal Estate
Founded1999
Headquarters100 Harris Street, ,
Australia
Key people
Jason Pellegrino[1] (CEO)
Brandsdomain.com.au commercialrealestate.com.au allhomes.com.au
OwnersNine Entertainment Co. (60%)
Websitehttps://www.domain.com.au

Domain Group (or simply Domain) is an Australian digital property portal and associated real-estate industry business. The company was founded by Fairfax Media, when the publisher branded their real-estate sections in print with the Domain brand and first established an online presence in 1999.[2] The company was a wholly owned subsidiary of Fairfax until November 2017, when Domain was listed on the Australian Stock Exchange as a public company, although Fairfax Media (now Nine) retained a 60% ownership of shares.

The Domain Group is best known for its real-estate portal domain.com.au, which is Australia's second largest real-estate marketing business with 90% market penetration.[3] It competes directly with market leader REA Group, which is majority-owned by Nine rival News Corp Australia.[4][5]

In June 2018, Domain Group were announced as platinum partner[6] of the Australian Men's Cricket Team.[7] Under the deal, Domain will be the presenting partner of men’s Test cricket over four years, which includes the next Ashes to be hosted in Australia, and will become the official real estate partner of Cricket Australia.[8]

Assets[edit]

The Domain Group consists of a portfolio of businesses[9] including but not limited to:

  • The Domain and Allhomes residential property listings portals
  • The Commercial Real Estate commercial property portal
  • MyDesktop, a real estate agency CRM and listings management system
  • APM Pricefinder, a property data business whose products focus on modelling projected values of real estate for investors, agents and financial institutions
  • Metro Media Publishing Group (MMP), which was fully acquired by Fairfax Media in January 2015[10] and consolidated into the Domain Group.

Public listing[edit]

In February 2015, the Australian Financial Review published an article highlighting Credit Suisse analyst expectations of a likely float of the Domain Group in the future, and attributed an AUD $1.3 billion valuation to the group.[11]

On 21 February 2017 trading in Fairfax shares was suspended[12] until half yearly results and an announcement of intent to turn Domain into a listed entity were announced.[13] Domain Group was widely seen to "prop up" Fairfax revenues, as the company's publishing divisions were struggling.[14][15]

Domain began trading on the ASX at midday (AEDT) on 16 November 2017, with shares opening at AU$3.80 giving the company, listed as Domain Holdings Australia (ASX:DHG), a valuation of nearly AU$2.2 billion.[16][17]

References[edit]

  1. ^ Mason, Max; Whyte, Jemima (3 July 2018). "Domain taps Google's Jason Pellegrino as new CEO". Australian Financial Review.
  2. ^ "domain.com.au: Property from Every Angle". web.archive.org. Archived from the original on November 27, 1999. Retrieved 2015-04-29.
  3. ^ "Domain starts year with big subscription growth - REB". rebonline.com.au. Retrieved 2015-04-29.
  4. ^ "Is Domain.com.au catching up to REA Group Limited? | Motley Fool Australia". fool.com.au. Retrieved 2015-04-29.
  5. ^ "Domain says it's 'no longer No 2'". theaustralian.com.au. Retrieved 2015-04-29.
  6. ^ AAP. "Cricket Australia signs naming rights deal". cricket.com.au. Retrieved 10 October 2018.
  7. ^ Duke, Jennifer. "'Domain Ashes': Real estate group partners with Cricket Australia". Sydney Morning Herald. Fairfax Media. Retrieved 10 October 2018.
  8. ^ McDonnell, Josh. "Cricket Australia continues sponsor rebuild with new Domain deal". adnews.com.au. AdNews. Retrieved 10 October 2018.
  9. ^ "Multi-Platform Business Solutions - Domain Group". domain.com.au. Retrieved 2015-04-29.
  10. ^ "Fairfax acquires 100% interest in Metro Media Publishing Holdings (MMPH) and consolidates into Domain". fairfaxmedia.com.au. Retrieved 2015-04-29.
  11. ^ "Fairfax still likely to float Domain, Credit Suisse says | afr.com". afr.com. Retrieved 2015-04-29.
  12. ^ "Fairfax shares in trading halt ahead of Domain announcement".
  13. ^ "Fairfax Media confirms Domain spin-off".
  14. ^ Meade, Amanda (19 February 2016). "Fairfax Media posts $27.4m profit despite lower print advertising revenue". The Guardian. Retrieved 24 November 2017.
  15. ^ Ward, Miranda (19 February 2016). "Domain drives growth for Fairfax as company continues on path from print to digital". Mumbrella. Retrieved 24 November 2017.
  16. ^ Bennett, Lindsay (16 November 2017). "Domain valued at $2.2 billion after listing on ASX". Ad News. Retrieved 24 November 2017.
  17. ^ "Domain listed on the ASX at noon". ABC. 16 November 2017. Retrieved 24 November 2017.

External links[edit]

Official website