Hoppler to Acquire ZipMatch in The Philippines

November 24, 2020
Share this Post: 

Frontier Digital Ventures interest expands in the Philippines with the acquisition of a direct competitor

The Filipino property portal Hoppler has entered into an agreement for the 100% acquisition of direct rival ZipMatch for 10% of Hoppler’s issued capital and a cash consideration of $145k. As a 40% stakeholder in the business, the deal will see Frontier Digital Ventures’ position in the Filipino market consolidated as well as seeing that Hoppler’s sales force of brokers doubles as “the two most active transaction-based portals in the country come together”.

Founded in 2012, ZipMatch is a property portal based in the Manila Metro area which has generated modest revenue figures over the last few years with 2019 seeing $220k and 2020’s revenues of $72k being heavily hit by Covid. Now as a consolidated entity ZipMatch is expected to benefit from what a press release called the “highly complementary nature of both businesses”.

The acquisition of ZipMatch is the second such big M&A deal entered into by Frontier Digital Ventures in as many months after the company acquired leading classifieds titles Fincaraíz, Avito and Tayara from Adevinta in October. FDV’s Founder and CEO Shaun Di Gregorio has not ruled out further M&A activity.

“The temporary COVID-19 period has created a number of compelling opportunities to strengthen our competitive position and broader portfolio. We continue to assess other value-accretive opportunities, with long-term value creation for shareholders very much front of mind.”

November 24, 2020
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

Zillow Housing Data
Zillow Rolls Out AI-Assisted Home Tours Nationwide

Home shoppers across the U.S. can now tour homes virtually using Zillow's free, AI-generated floor-plan tool. Zillow's AI-generated floor plan is...

Read More
Scout24 Boardroom
Scout24 Revenues Grow 15% in Q2 as User Subscriptions Grow to Nearly 300,000

Scout24, Germany's dominant portal, has released its half-year results, with strong performance across the board. Highlights include: Revenue growth of...

Read More
Shutterstock 1356000662
REA Group Smashes A$1 Billion Revenue Barrier as it Capitalizes on 'Buoyant Listings Environment' in FY22

The Australian real estate portal operator REA Group has released its report for the 2022 Australian financial year. Highlights from...

Read More
Shutterstock 502750987
Opendoor Gets Fined $62m, Partners up with Zillow

Opendoor—an iBuying specialist based in the US—has been fined by $62 million by the FTC for misleading customers and posted...

Read More

Editor's Pick