Sky News is reporting that new portal Boomin is to announce the former chief executive of Sir Richard Branson’s business empire as its chairman.
Stephen Murphy, who spent 17 years at the Virgin Group, is to be officially named in the role later today.
Sky News says: “His appointment comes as Mr [Michael] Bruce finalises the first stage of a £25m fundraising for the new portal, which will compete with listed peers such as Rightmove and OnTheMarket.”
It continues: “A source close to Boomin said the funding was being committed at a £100m post-money valuation.”
The news service adds that DM Capital, a venture capital operation, was both an early backer of Purplebricks and is now one of the new shareholders at Boomin.
Sky was used by Purplebricks for a number of new announcements in the past, when Michael and Kenny Bruce were still controlling the agency.
Sky News is reporting that Boomin, the portal founded by Purplebricks...
Property portal Boomin has been "courted by a range of potential...
Sky News reports that the little-known Lomond Group - backed by private...
Following speculation overnight, Foxtons - one of London's leading and most...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.jpg){kind=logo}
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
.jpg)
Tell us a little bit about National Home Move. We are a...
If you’re thinking about becoming an Estate Agency franchise or converting...
Estate agents and lettings agents have a legal obligation to protect...
You don’t have to simply accept things as they are when...
From the uptick in house sales in January to a house price...
Happy birthday to us….and all members of the The ValPal Network! We...
With a combined value surpassing £7.4 trillion, the UK’s 29 million...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
When almost all agents and developers use the tried and tested formula...
I think we can all agree that the National Trading Standards...
.png)
As domestic battery storage systems become increasingly prevalent in UK homes,...
.png)
A team from The ValPal Network joined industry Facebook ads expert...
.png)
In this interview, Riccardo Dawson, Chief Operating Officer at Alto and...
%20(002).png)
In today's fast-paced and ever-evolving property industry, it’s essential that forward-thinking...
A client account is essential to your lettings business, but the...
As electric vehicles increasingly populate our roads and the necessity for...
As estate agents, it is important to make sure that your...
Estate agency has changed. No longer is it required to sit in...
Changes to consumer behaviour usually arrive in waves. Most of the...
At iamproperty we are excited to share the announcement of our...
It’s no secret – 2023 is a difficult year for the...
In an exclusive interview with Estate Agent Today, Simon Coaker, Sales &...
2023 has been coined as ‘the year of AI adoption’, and...
%20(002).jpg)
There are a few common questions that arise when the issue...
As a signage company we know we have a serious responsibility...
The Government’s mini budget on September 23 was anything but ‘mini’...
Agent websites have become more crucial than ever in attracting new...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Jump to latest comment and add your reply
So It's all about helping agents. Yer Right! The pantomime continues.
Founder agents currently trying to work out when they'll be able to cash their chips in.
and its only time before the Bruce Brothers bail (2/3 years i guess) and cash in and then all bets are off re portal and consumer direct....... (if not before due to pressure if not enough agents give it the traction it needs - which is all they are interested in as far as the agents are concerned - this was always the plan guys and girls)
I agree, the Bruce' plan is clearly to boost the share value and then cash them in, but if it breaks the throat grip that Rightmove have, it is still worth a punt.
Please login to comment