Purple Bricks Founders' New Portal Boomin Makes Waves in the Industry

August 31, 2020
Share this Post: 

As the UK property marketing industry changes, one anonymous and supposedly prominent commentator believes that only one new portal has what it takes to challenge Rightmove. 

Our recent UK Challenger Portal interview series profiled some of the portals and alternatives hoping to carve out a piece of the Rightmove and Zoopla pie for themselves as the UK industry evolves and incumbent portals come under pressure from increasingly squeezed agents. Among the companies featured was OpenBrix whose MLS style solution to the question of marketing property in the UK got some important backing from across the pond last week.

However, according to an anonymous source quoted in Estate Agent Today, none of the well-meaning challengers stand a chance of making serious inroads in the market as they don’t have the financial backing necessary to make noise and get eyeballs on properties. The unnamed source claims to have been given an inside look at the workings of Boomin, the new portal founded by the two brothers behind Purple Bricks, and says that its offering will be the only new portal to worry the big boys:

“None of the other emerging portals have any significant marketing proposals - outside of the agency industry nobody’s heard of them. Boomin has wads of cash and so will get eyeballs on the properties and therefore leads. It’ll work”

The comments follow tacit backing from Say No To Rightmove leader Rob Sargent who intimated last week that his company might be in line to sign up to Boomin’s offering.

With many of the challenger portals being bootstrapped entities, the theory goes that with little chance of gaining access to large amounts of capital needed to market their offerings they will come off second best to Boomin. Details of the funding behind Boomin and the USP of its product are scarce at this point however and Boomin declined our invitation to be part of the UK Challenger series preferring to keep their powder dry for a mooted launch date in October.

August 31, 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 news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More
Women In Tech Rea And Zoopla
REA Group and Zoopla Backing Women in Tech Initiatives

Both leading Australian portal operator REA Group and British property portal Zoopla have today announced measures to back women in...

Read More
Alma Media House Symmetry
Alma Media Q3 Figures Show a Healthy Company as Stock Trades at Record High

Alma Media, the operator of Finland's two largest real estate marketplaces, has released figures from its Q3 that show record...

Read More
Ke Holdings Layoffs
KE Holdings Lays Off Staff As Chinese Market Cools

KE Holdings, the operator of China's largest real estate marketplace and brokerage Beike, has laid off workers in Shanghai according...

Read More

Popular News