German publishing company Axel Springer recently increased its stake in Purplebricks to 12.5 percent, and there is indication that it may increase it further.
The company bought three million Purplebrick shares at £3.07p each; back in March the firm paid around £125 million pounds for its original 11.5 percent stake in the hybrid agency.
“We still view this as an innovative business model that allows us to participate in new markets,” a spokesman for Axel Springer stated.
The UK-based property portal, which has challenged traditional operators in Britain such as Countrywide and Foxtons, launched in the US market last year – its third following Britain and Australia.
Since then Purplebricks has announced its acquisition of a similar hybrid listings platform in Canada and the mixed fortunes in its latest trading statement.
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