Who said the UK tech scene is struggling? Property-tech superstar Zoopla Property Group is hoping that it could be valued at up to £1.04bn when it floats later this month.
The Daily Mail and General Trust plc, which owns Zoopla, has announced that Zoopla’s initial public offering (IPO) will see it priced at 200p to 250p per share, giving it a valuation of £833m to £1.04bn.
Zoopla’s turnover was £64m in 2013, and it boasted some 40 million visitors every month across its websites – the main one being, of course, Zoopla.co.uk, though the group also owns PrimeLocation.com.
This chart, from a Zoopla Property Group presentation from March 2013 by founder and CEO Alex Chesterman (pictured above), shows its impressive turnover growth over the past few years:
Source: Zoopla Property Group
The same presentation reveals that the company was, as of March 2013, expecting more than 50% revenue growth over the next three years. You can view the full presentation here.