Today at the Property Portal Watch Conference in Barcelona, Christophe Rousseaux the CEO of Immoweb in Belgium discussed his business and how they work with Axel Springer Digital Classifieds as a strategic investment partner.
Immoweb is the clear market leader in Belgium. They have 155,000 ads, 300,000 daily visits and a team of 60 people. Over the life of the business they have published 4.5 million ads. There continues to be strong growth in traffic driven, in particular, by mobile technologies.
The is no clear #2 in the market and versus the competition, Immoweb is 5 times bigger than the next biggest competitor.
When looking at what has driven their success the put it down to:
- Surfer focus
- Strategic partnerships
- Largest customer database
- Efficient and easy to use platform
A year ago Axel Springer Digital Classified purchased 80% of the Immoweb business. Axel Springer Digital Classified is a joint venture (70:30) between Axel Springer in Germany and General Atlantic.
The key reasons behind the investment are to drive stronger growth, capture some synergies with sister companies (Seloger, Immonet), and share best practice with all the other investment companies at Axel Springer Digital Classifieds.
When looking at a year later, there has been strong value delivered from taking on board a strategic investor. They have grown faster than plan, captured some synergies, increased motivation within the team, new opportunities have been created, and the overall business is becoming more and more professional.
If you would like to attend the next Property Portal Conference, join us in New York on January 13 – 14 2014.