Yopa, a top digital analyst site has doubled its listings since the beginning of the year, coming up behind rival Emoov-Tepilo which is just under Purplebricks for most listings on the UK-based property portals.
“One can imagine that the business is spending big to acquire new customers, so it is unlikely to be sustainable or profitable. But it is growth nonetheless” according to Mike DelPrete, the former head of strategy at New Zealand property portal Trade Me and now a respected international real estate consultant.
He is the second PropTech expert to set out the high spending pattern of Yopa.
Eddie Holmes, chair of the UK PropTech Association, last month suggested that Yopa – which has substantial financial backing from Savills and LSL Property Services – has had around £55m of investment, which is more than Emoov and Tepilo with a combined £31m.
In terms of the wider UK online estate agency landscape, DelPrete says Yopa is, therefore, vying with the newly merged Emoov-Tepilo operation to be the ‘runner-up’ for business, behind Purplebricks.
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