Drama as Argentinian Portal Directors Leave to Set Up Rival After Investor Showdown

The leaders of the Argentinian real estate portal Inmoclick have been removed by the portal's investors following a dispute and have set up a new portal to take on their former company.

Online Marketplaces understands that the dispute was related to the terms of an agreement to invest in the portal which led to the termination of Director Gabriel Peralta and Vice Director Marcos Herrera. Argentinian companies have found investment hard to come by for many years with investors reluctant to put money into startups operating entirely in the local currency.

According to an inside source, a large portion of the staff who had worked for Inmoclick have now defected to its newly created rival, Inmoup.com.ar. The new portal's employees have leverage over their former employer as the Inmoclick domain was personally owned by Peralta. At the time of writing, the Inmoclick.com.ar domain was redirecting to Inmoup.com.ar

Inmoclick is now being led by Cristian Conucci, the owner of a prominent real estate agency operating in the Mendoza region. Conucci took to Linkedin last week to announce that Inmoclick's services would be free of charge for customers in April due to the domain-related issues his portal was facing.

Meanwhile, new portal InmoUp describes itself as a classic real estate marketplace focussed on the generation of quality leads for agents and states that it does not plan to compete with agents in any way. The upstart portal plans to focus growth efforts on regions outside of Buenos Aires.

Both Inmoclick and InmoUp compete in the Argentinian market against the likes of Quinto Andar-owned Zonaprop and Argenprop which is owned by the publishing company, Clarín.