idealista May Be For Sale as Owner Frustrated by Delayed IPO

September 3, 2020
Share this Post: 

It is being reported in the Spanish press that the country’s leading portal company is for sale. The company’s majority owner, the British venture capital firm Apax Partners, is apparently looking to sell up after being frustrated in its attempts to take the company public. Apax engaged Morgan Stanley and Bank of America to bring the highly successful property portal company to the public market back in February but reportedly market conditions are hampering their efforts despite signs to the contrary such as the recent confirmation that Airbnb is to get its IPO.

There are plenty of potential buyers in line to take the 80% share of a portal company that owns market-leading property portals in both Spain and Portugal as well as the close rival to the leader in Italy and which reported a healthy set of results for 2019. KKR, who recently plunged money into PropertyGuru, as well as Zoopla owner and conspicuous Airbnb backer Silver Lake, are among several reportedly interested parties with the price thought to be in the region of €1 billion or perhaps even higher for a single buyer taking a controlling share. The remaining 20% of the business is owned by Co-Founders the Encinar brothers and César Otieza.

September 3, 2020
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

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

Shutterstock 1454624438
U.S. Portal Operator OJO Labs Acquires The LEAD Syndicate

The U.S. PropTech operator OJO Labs has announced that it has acquired The LEAD Syndicate, a provider of teach solutions...

Read More
Onthemarket Employees
OnTheMarket PR Push Continues with Agent Signups and Roadshow

The UK's number three portal OnTheMarket (OTM) is definitely ramping up its PR in the early months of 2024 with...

Read More
Product Roundup 13March24
Product Roundup: FangDD, Yandex, Redfin, Realtor.com, Keyper, OneDome and MagicBricks

Another week, another big product roundup for portals and proptechs worldwide. Here's what we've spotted...   FangDD shares soar 80%...

Read More
Proptechfundingroundup060324
PropTech Funding Roundup: Cove, FOIP, EasyKnock, GoFlint, Rukita

While the average value of this week's proptech fundraising roundup hovers around the $3M mark, one of today's featured startups...

Read More