Home Residential Property Zoopla considers a float that could value it at £1bn+

Zoopla considers a float that could value it at £1bn+

by Deleted Subscriber Content
8th Sep 13 10:16 pm

Property website Zoopla is considering a stock market listing. It is the UK’s fastest-growing property website and second-biggest by page views, after Rightmove.

Zoopla has appointed Credit Suisse to “explore further strategic opportunities as we continue to grow”, Zoopla said, suggesting it is eyeing a float.
A float could value Zoopla at between £1bn and £1.3bn, according to bankers cited by the Sunday Times.

That would mean a rather tasty £100m on paper, or thereabouts, for founder Alex Chesterman, who retains a 9% stake.

Daily Mail publishers DGMT also own a stake in the company.

Zoopla sources were keen to stress the company did not need to raise cash and said the float was “absolutely not a certainty”, according to reports.

Last week Zoopla Property Group acquired four property sites from Trinity Mirror for £3.3m, and also launched its biggest-ever marketing campaign, consisting mainly of TV ads.

Chesterman founded Zoopla in 2008 with co-founder Simon Kain.

Chesterman previously founded ScreenSelect in 2005, which he merged with LoveFilm in 2006.

When Amazon acquired LoveFilm for £200m in 2011, Chesterman reportedly made big bucks. He has also founded a bagel chain.

Chesterman told us last autumn that he will leave “no stone unturned” in his battle to get Zoopla to the number one spot in the property portal sector.

“We got into the space to win, not to be the number two player,” he said.

Zoopla was highly commended in our London Loves Excellence Awards in June.

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