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Zoopla buys PropertyFinder

Monday, August 10, 2009

Source: Catherine Deshayes

Zoopla.co.uk, a property market resource, has completed the acquisition of the PropertyFinder Group from News International and the REA Group, for an undisclosed sum...

The PropertyFinder Group includes propertyfinder.com and other online property assets including HotProperty.co.uk and UKPropertyshop.co.uk.

Zoopla.co.uk has also bought ThinkProperty.com from Guardian Media Group.

Zoopla.co.uk is led by founder and CEO, Alex Chesterman, who also co-founded LOVEFiLM.com, the online DVD rental business.

Backers of Zoopla.co.uk include venture capitalist firms Atlas Venture and Octopus Ventures. Nicholas Leeming, co-founder of propertyfinder.com, will remain with the business.

Alex Chesterman, founder and CEO of Zoopla.co.uk, said, ‘This acquisition is a great fit for us and will accelerate us significantly towards our goal of becoming the most efficient marketing partner for UK estate agents by providing them the widest possible exposure and best value online marketing services.'

Source: www.propertyweek.com