17 Dec 2015 07:00
Hardman & Co issues research report on Purplebricks Group
Unique model captures dominant market share: Purplebricks is a 24 hour estate agency, combining technology and customer facing software with local property experts (LPEs) to create something better, more convenient, transparent and significantly cheaper for sellers and landlords. Since launch in April 2014 it has captured over 60% of the online market and even become the 4th largest UK estate agent. Its first mover advantage provides substantial scope for growth and suggests the share valuation is modest. Moreover, the management team have extensive public company experience, estate agency expertise and a track record of building fast-growing businesses. These metrics have supported a successful IPO today, raising £22.8m net new money (£58m in total) to enhance strong growth.
Please click here for the full report:
http://www.hardmanandco.com/system/files/research_papers/Purplebricks%20Dec15_0.pdf
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