the fastest and cheapest way to get your property advertised on rightmove

more information

Zoopla secures more funding

Zoopla has raised a further £3.25m worth of new funding to fuel its growth strategy.

Funding consists of £1.75m worth of new equity from its existing shareholders, led by venture capital firms Atlas Venture and Octopus, and a £1.5m debt facility from Silicon Valley Bank, the commercial banking division of SVB Financial Group.

The portal, which claims to attract over five million visitors per month, plans to use the funding to invest further in its efforts to boost its brand awareness and grow its market share. The strategy includes a continuation of its TV advertising campaign, which it launched earlier this year, in January.

Alex Chesterman, founder and chief executive officer of Zoopla, says: “Despite the current market uncertainty, we are totally committed to supporting the industry and building the portal into the leading online property destination in the UK.”

Zoopla launched in 2008 with £1.5m worth of seed capital from Atlas. It raised a further £3.75m from Atlas and Octopus in January 2009 with which it acquired Thinkproperty and Propertyfinder last summer, plus Byteplay.

Article from: www.negotiator-magazine.co.uk 16/12/10