Consolidation underway in UK property portal market

| July 15, 2009 | 0 Comments

Zoopla.co.uk, the UK’s fastest growing property website, announced today that it has acquired Thinkproperty.com from Guardian Media Group (GMG) for an undisclosed sum. Thinkproperty.com is a well-established UK property portal, launched by GMG in 2006 and focuses primarily on delivering leads to UK estate agents.

Under the deal, Zoopla.co.uk will take over and integrate the Thinkproperty.com brand and website, benefiting from its current traffic of over 200,000 unique users per month, along with becoming the exclusive property search partner on the Guardian.co.uk website.

Zoopla tells us that the deal stands to be a win for agents currently listing their properties on Zoopla.co.uk, who will now gain more exposure and receive more leads as a result of the acquisition.

Alex Chesterman, Founder and CEO of Zoopla.co.uk commented: “We are delighted to be leading the latest round of consolidation in this market as it reinforces our mission of delivering the best possible value to estate agents by increasing their exposure to a wider audience and offering them a broader range of services. We plan to continue to grow our traffic organically and look at possible further acquisitions as part of our commitment to become the most efficient marketing partner for UK estate agents.” 

 Since its launch last year, Zoopla.co.uk has already made a significant mark on the UK portal market, achieving record traffic growth despite property market conditions, bucking the fundraising climate by raising almost £4m at the start of this year and having become the 5th most-visited property website in the UK in its first year of operation.

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Category: Estate Agents, Property Portals

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