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Wonder how much Marsden will walk away with for"getting s..t done "
They were approiached by a number of parties but when they lifted the lid on Pandoras Box the reality of Bricks cash position falling instructions hit home (despite the candy floss that they were having a good March -far from it)
The Duologi contract expiring in April was the killer blow hidden from shareholders turned model on its head
The fact they are currently losing £1800+ per instruction couldnt y have helped
Its a complete bag of spanners
Purplebricks is an online estate agent
that was founded in 2014 and quickly
became a major player in the UK
property market. The company offers a
unique proposition, enabling sellers to
list their properties online for a fixed fee,
which is significantly lower than
traditional estate agent commissions.
This model quickly gained popularity
among cost-conscious sellers, and the
company rapidly expanded across the
UK and into other international markets.
However, in 2023, rumors began to
circulate that Purplebricks was the
target of a potential takeover bid. The
rumored bid was for a price of 22p per
share, which was a premium over the
company's then-current share price.
The identity of the potential bidder was
not disclosed, leading to speculation
about who might be interested in
acquiring the online estate agent.
The potential takeover bid of
Purplebricks comes at a time of
significant consolidation in the UK
property market, with traditional estate
agents facing increasing competition
from online players. If successful, the
acquisition could help the buyer to gain
a stronger foothold in the online estate
agency market and potentially expand
into new markets.
However, any potential deal is likely to
be subject to regulatory scrutiny,
particularly given the size and
importance of the UK property market. It
remains to be seen whether the rumored
takeover bid for Purplebricks will
materialize, but it is clear that the online
estate agency sector is likely to continue
to generate significant interest from
investors and potential acquirers.
With Coral, just took on a short at 0.68p, need to buy it today
Market cap is 2.15m.
Enfin - I’m not your mum! You do it. I’d suggest yahoo is wrong
Shenners
The MC is given by Yahoo Finance. Today £3.728.
To clarify the issue: How many shares are in Issue?
Shenners
Be very surprised that those who wish to see the Strike deal go ahead for whatever reason haven't spent £300k to make sure the deal goes over the line
The abortive fee bill would be horrific + loss of face This was a done deal as soon as Bricks failed to replace the Duologi contract
If you think maxing out the distrubution payment to shareholders in Brcvks is foremost in the staff's mind,think again
Maybe £2.1m and they can say they havbe acheived a result !
Might be a bit of action this week as strike look to acquire additional voting rights and sure up their position
Nope it’s still just over 2m mcap I’m sure not sure where you’re looking
Some days ago the MC was about £2.6m. It is today listed at £4.4m. How come?? Would appreciate an explanation.
Thanks.
I have just voted against this on ii (polite word stitch-up, closer to reality theft). Perhaps not just incompetence by senior management here. I laughed when a recent parliament committee said crypto should be regulated as gambling as people could lose all their money - unlike Purplebricks where you get to keep 1%.
you want to know? okay.
sadly the emperor's new clothes that applies to purplebricks also applies to any form of regulation enforcement in this country, sadly. purplebricks has traded illegally from day 1. and they have barely been picked up on any of it. a group of like-minded individuals have accidentally stumbled into being the only people in the country trying to hold these shysters to account. 1 even ended up in court having to defend himself from them (and he won, obviously). we knew it was always going to end like this and here we are, an absolute trash fire of a company.
if you know me, then you would know i couldn't give 1 hoot for shareholders. but even i felt moved to get off my **** and do something to try and protect them from the million deceptions purplebricks has wrought on them in its history. it would be lovely if the authorities got off theirs too. but don't hold your breath.
Seemingly oblivious to the story of Purplebricks .Promised so much and delivered so little
"All in the window and nothing in the shop springs to mind"
Very apt !
I think you have missed the gist on that one
What did Purplebricks do to you, Kramreklaw? 5-year-old account, 100 posts, all bashing PURP.
That's wild amounts of dedication to the cause 😂
"THERE'S BEEN A RAPE!"
A staff meeting yesterday Talking like a done deal .
Here is a resume from 1 of the Area Directors as if the whole affair has gone over their heads and everything is fine now despite losing £2m pcm and the new regime likely to be taking a sword with carnage to follow.
"Absolutely loved being given the opportunity to host the Purplebricks National Q&A yesterday 👌🏼 it was certainly a different vibe to my usual gig when 'MC Big Tasty' 🍔 takes the mic at Crossfit Solent events but I really enjoyed myself 💜
Thanks to Eleanor Sinclair, Lauren Unitt and deborah hinckesman for selecting me and helping with the prep work 💻
It was great to chew the fat about the upcoming sale and plans for the future with the AWESOME HELENA MARSTON , Paul Birkin, Mauricio Hernandez Chartered FCIPD, LLM, MA, Dominique Highfield and Mark Jenkins, FCG, I know they all appreciated the few David Brent lines I was able to deliver 🤣
Very excited to what June and beyond brings for us as a business 💥
Onwards and upwards 💪🏼"
Be worth even more when other bidder pops up and shareholders vote not to go with strike. Happy days
"Now just imagine if this gives Jeff Bezos an idea !!!!!"
Too late to benefit investors who have been royally stuffed
The BODS gave some questions to answer. When did it all go badly wrong with Duologi ? Bricks appear as a major client on their website .
https://duologi.com/sectors/bespoke/
"From the UK’s largest disruptor shaking up the estate agency market to the solicitors representing clients with ‘no win, no fee’ legal claims, we work with all types of businesses to help keep life moving."
The BODS knowing sometime ago they wouldn't be profitable until 2024 cash being chewed monthly .It
was incumbent for them to have a deal in place either to renew or replace Duolgi by the 30th April .They did neither.
So on Feb 17th the Strategic Review was announced & the sale sign hoisted.Too little ,too late
They knew then that nobody would be able to digest the info& pull off a deal before the Duolgi contract expired . No mention of that material info in the RNS when investors who might not have loaded up if they knew the awful truth
Sharteholders doomed then
Strike have played a blinder .Talked a good game &knew in Feb as they were already undertaking a stafff reorg in anticpation -all they had to do is take this past April 30 & pick it up for a bag of pennies
Here is an extract from a former Strike employee
"Strike made 40% of staff redundant this year (clearly to pave way for this) & currently advertising via agencies for new brokers without contacting those made redundant. Means already gearing up to make more Purplebricks advisors redundant than necessary too."
The likley lads now roliing the dice to see if they will pay £2 or £2.5m !
Like trying to get out of trouble at the bookies in the bumper
Definitely worth a look this afternoon FAB
Home » News » Agencies & People » Purplebricks ‘must become Amazon of property world’
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AGENCIES & PEOPLE
Purplebricks ‘must become Amazon of property world’
Proptech consultant Andrew Stanton says Purplebricks and its new owners Strike should copy Amazon's offer to customers.
David Callaghan
19th May 2023
Amazon for sale board
Purplebricks could become the ‘Amazon’ of the property market if it invested in the necessary technology, according to a leading proptech consultant.
Andrew Stanton, Founder, Proptech-PR
Andrew Stanton, founder of Proptech-PR, told The Neg that Purplebricks’ technology is “in the foothills”, and has “lagged behind”.
The troubled agency was bought this week for £1 by rival Strike pending approval by its shareholders.
Sam Mitchell, CEO, Strike
Strike CEO Sam Mitchell told The Neg the combined firm would “highly likely” be called ‘Purplebricks’, as the brand was so recognisable.
He also said the new company would invest heavily in technology to make it “big, transformative and disruptive”.
Now just imagine if this gives Jeff Bezos an idea !!!!!
GL.
Happy for it to creep up, as I took a position at 0.75....hoping for a bounce.
Very quiet on here as this slowly edges up?
Are there defo shorts to close here?
If so short squeeze and sp spike?
Could another bid materialise?
Could be worth a punt !
GL.
404x is spot on and it will be zero £, one way or another...