Zoopla and Agents' Mutual clash over the future of property
Zoopla CEO Alex Chesterman said its new competitor Agents' Mutual could alienate consumers.
The potential threat of a disruptive new competitor failed to rain on Zoopla’s parade today as the property website posted strong annual results. Revenues were up 24% to £80.2m and EBITDA soared 35% to £39.6m in the year to September.
‘I am pleased to present such a strong set of full year results following our successful IPO in June,’ said its CEO and founder Alex Chesterman (pictured below). ‘2014 has been a landmark year for Zoopla Property Group with record audience levels and strong revenue growth across all areas of the business.’
There is a speck of potential trouble on the horizon though. Along with its key competitor Rightmove, Zoopla faces the prospect of a determined new entrant to the market.
