Matt McCann, the former CEO of Australian product comparison websites iSelect and Compare the Market, has taken the reins at online real estate business LocalAgentFinder, reports The Australian Financial Review.
LocalAgentFinder, a privately owned company, is preparing for an initial public offering in the first half of 2017 and is expected to seek about another $20 million to $30 million in equity.
The company told shareholders this morning that McCann’s experience in corporate finance and in operating high-growth companies made him an ideal choice to lead the company’s next phase of growth.
Founded in 2007, LocalAgentFinder runs an Australian website that allows real estate agents to bid for the right to sell properties. More than 500 agents currently use the site and offshore markets are reportedly in its sights.
LocalAgentFinder is known to be working towards an ASX-listing in the new year, and recently met fund managers as part of a $5 million pre-IPO funding round.