Domain Group

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Domain Group
Public company
Traded as (ASX – DHG)
Industry Real Estate
Founded 1999
Headquarters 100 Harris Street, Pyrmont, Australia
Key people
Jason Pellegrino [1] (CEO)
Brands domain.com.au commercialrealestate.com.au allhomes.com.au
Owners Fairfax Media (60%)
Website https://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 retain 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 Fairfax rival News Corp Australia.[4][5]

Assets[edit]

The Domain Group consists of a portfolio of businesses[6] including:

  • The home listings portal
  • The commercial property portal
  • My Desktop, An 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[7] 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.[8]

On 21 February 2017 trading in Fairfax shares was suspended[9] until half yearly results and an announcement of intent to turn Domain into a listed entity were announced.[10] Domain Group was widely seen to "prop up" Fairfax revenues, as the company's publishing divisions were struggling.[11][12]

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.[13][14]

References[edit]

  1. ^ https://www.afr.com/business/media-and-marketing/advertising/domain-taps-googles-jason-pellegrino-as-new-ceo-20180702-h125yk
  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. ^ "Cookies must be enabled. | The Australian". theaustralian.com.au. Retrieved 2015-04-29. 
  6. ^ "Multi-Platform Business Solutions - Domain Group". domain.com.au. Retrieved 2015-04-29. 
  7. ^ "www.fairfaxmedia.com.au/ArticleDocuments/193/12012015%20MMPH.pdf.aspx?Embed=Y". fairfaxmedia.com.au. Retrieved 2015-04-29. 
  8. ^ "Fairfax still likely to float Domain, Credit Suisse says | afr.com". afr.com. Retrieved 2015-04-29. 
  9. ^ "Fairfax shares in trading halt ahead of Domain announcement". 
  10. ^ "Fairfax Media confirms Domain spin-off". 
  11. ^ Meade, Amanda (19 February 2016). "Fairfax Media posts $27.4m profit despite lower print advertising revenue". The Guardian. Retrieved 24 November 2017. 
  12. ^ Ward, Miranda (19 February 2016). "Domain drives growth for Fairfax as company continues on path from print to digital". Mumbrella. Retrieved 24 November 2017. 
  13. ^ Bennett, Lindsay (16 November 2017). "Domain valued at $2.2 billion after listing on ASX". Ad News. Retrieved 24 November 2017. 
  14. ^ "Domain listed on the ASX at noon". ABC. 16 November 2017. Retrieved 24 November 2017. 

External links[edit]

Official website