Agent Controlled Dutch Market Leader funda Looking For New Minority Shareholder

May 18, 2023
Share this Post: 

The agent association which owns a majority share in the Dutch market-leading real estate portal funda has announced that it has taken a new step towards allowing its members to sell shares in the portal.

Non-binding bids are now being accepted for a minority shareholding in funda after a recent strategic review by NVM (the Dutch Cooperative Association of Brokers and Valuers) which was preceded by years of shareholder bickering.

A brief NVM statement released on Wednesday did not reveal any potential suitors for funda nor a timeline for any shareholder sales.

Founded in 2001, funda is the clear market leader in the Dutch real estate market with a healthy traffic and brand lead over its competitors.

NVM members were given the opportunity to buy shares in funda at the portal's foundation and today are said to control around 10% of the portal's shares with NVM itself controlling almost all of the remaining shares. Many members have long been keen to cash in on their shares but have been prevented from doing so by NVM's reluctance to allow individual members to sell their shares to outsiders.

The tension behind the scenes at funda was revealed in 2021 when the portal's CEO, Quintin Schevernels resigned citing "discussions at the shareholder level" which he said were "slow[ing] down the execution of our strategy."

NVM's move to invite private investment in a dominant portal is similar to the rumoured move being considered by the Canadian Real Estate Association (CREA) who are reportedly considering allowing outside investment in leading Canadian portal

May 18, 2023
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Homesnap Closure
CoStar Group to 'Sunset' Homesnap in Favor of

CoStar is set to sunset Homesnap and replace it fully with the Group's in-house brand by the end of...

Read More
Powerleads Ai Zumper
Zumper Latest Portal to Integrate ChatGPT Plugin

Zumper, a leading provider of rental industry software, has announced its collaboration with OpenAI's artificial intelligence engine, ChatGPT. The partnership...

Read More
Meta Egypt
Meta Egypt Launch Announced as Estate Waves and Coldwell Banker Egypt Team Up

Real estate marketing company Coldwell Banker Egypt has teamed up with Estate Waves to announce the launch of a new...

Read More
Costar Group Dark Filter
CoStar Group's Unveils New Features – a CoStar Group online marketplace – is set to launch a new suite of features designed to help...

Read More

Editor's Pick