Purplebricks UK CEO talks on company future and market shares for hybrid agencies

October 24, 2019

CEO of Purplebricks UK says that the company is not for sale, regardless of recent sales of stakes in the company and struggling revenue

Vic Darvey - who earlier this year took over as Chief Executive after Founder Michael Bruce left the company - made the defense of the company’s future in a short interview with the Sunday Telegraph

After a period of share sales and purchases in which German publisher Axel Springer ended up with a 27 percent stake in the company, Darvey told the paper the company was “absolutely not” for sale. 

“We believe the hybrid market place can get to 20 to 30 per cent [market share] in the next five years and they [Springer] believe in that.”

— Vic Darvey, Purplebricks UK CEO

The firm lost £56 million in the year to April and shares have fallen 80 percent from their 2017 peak.

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