Strike, the digital-first estate agent previously known as Housesimple, has been selected to join Tech Nation’s Future Fifty programme.
The online agent, which says it sells home for free, is joining the growth programme that aims to empower and connect 'some of the most successful tech companies in the UK', helping them to grow stronger and faster through peer-to-peer learning and in-depth masterclasses.
Household names such as Monzo, Bulb, Deliveroo and Zoopla have previously been part of the programme, with this year’s cohort seeing Cazoo, what3words, Tessian, Wolf & Badger, and others join alongside Strike.
The agency says its selection comes off the back of an £11 million funding round and a huge jump in market share in the North of England, where it argues its sell-for-free-model continues to grow and thrive.
The free service launched in Yorkshire and the North West in June 2019, followed by Nottingham and the North East in 2020. More recently, the company expanded into the central region and has announced plans to go national by early 2022.
Strike says its customers can control and manage the entire process of moving home via its mobile app, with the agent claiming to create a new, simple way for people to buy and sell
Sam Mitchell, chief executive officer of Strike, said: “We’ve always had a powerful, disruptive ambition and viewed ourselves as a tech company first — and our inclusion in Tech Nation’s Future Fifty programme is recognition of that.
"We’re excited to follow in the footsteps of so many other innovative and groundbreaking companies who have changed the way we think and live. Just like them, we’ve never been afraid to disrupt the industry we’re in and we believe it is one that it is long over-due some changes.”
Gerard Grech, CEO of Tech Nation, added: “The companies selected to join this year’s Future Fifty programme are a shining example of the UK’s entrepreneurship, innovation and resilience.
“Based across the UK, nurturing the growth of these scaling late-stage tech companies is critical to future proofing the UK’s economy.”
In July 2020, Housesimple was rebranded as Strike and earlier this week the no-fee agent said it had reached a £5 billion sales landmark. Its main form of revenue is by selling extras such as marketing boosts, hosted viewings and earning referrals for mortgage advice and arranging removals.
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Looking at the recent financials of Strike and its ability to burn through multi millions with little sign of ever obtaining an EBITDA rating (earnings before interest, taxes, depreciation, and amortization) and the fact like many online models which bit the dust in the past, as they had only the thinnest veneer of tech, I am genuinely amazed that Tech Nation which is hugely sponsored by Government funding has decided to allow them on the programme.
Strike’s freemium model, based upon referral income, is in no way a tech business based upon AI and ML, which Tech Nation itself states are, ‘now key foundations for many new platforms; in fact, in Europe 378 deals were completed within ‘Big Data’ companies in 2020, and 91% used AI and ML. The other vital technologies for innovation are robotics and drones; augmented reality and virtual reality (AR and VR); Internet of Things (IoT); and blockchain and cryptocurrency’.
My whole life’s work is immersed in tech startups, scale ups and increasingly tech companies on their exit journey, and it is the innovation at the base tech level that adds the value to the end client and the business. Endless rounds of cash injections to support projects that have a fundimentally flawed MVP, with little capital investment in ground breaking tech are never going to scale up.
Here is a man who is never too busy to blow his own trumpet
Getting a reaction JB is the only reason I and my co-director Zara get out of bed, and it is not so much a trumpet model we base ourselves on, more a full marching brass band. I have quite a big fanbase in Israel and Greater China, it is amazing if you give time and effort freely, how it all comes back ten-fold. People like doing business with busy people in the know, I am sure in your line of work it is the same story.
I do very well thanks but I have no need to constantly tell the world how fantastic and wonderful I am.
Narcissism is a very unfortunate personality disorder.
have to agree here.With volumes of instructions on the way down if they don't make a profit now when will they ?
In the meantime the dumbing down of UK estate agency continues.
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