Rightmove

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Rightmove plc
Public
Traded as LSERMV
Industry Internet & Real Estate
Founded 2000
Headquarters London, UK
Key people
Scott Forbes (Chairman)
Peter Brooks-Johnson(CEO)
Revenue £220.0 million (2016)[1]
£161.6 million (2016)[1]
£129.5 million (2016)[1]
Number of employees
469 (2016)[1]
Website www.rightmove.co.uk

Rightmove plc is a UK-based company that runs www.rightmove.co.uk, the UK's largest online real estate portal and property website. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The Company was created in 2000 as a joint venture between four of the UK's largest property agents: Halifax, Countrywide plc, Royal & Sun Alliance, & Connells under the name Rightmove.co.uk Limited.[2] It was first listed on the London Stock Exchange on 15 March 2006 at which time it became Rightmove plc.[3] In 2007 it bought 67% of Holiday Lettings Limited.[2] In May 2008, HBOS, one of the founding investors, sold its stake in Rightmove.[4] According to Forbes Rightmove operates on two-sided model which serves a vast “audience” for property listings on one side and 20,000 advertisers of available propertieson the other side.[5]

Operation

Rightmove makes money from listing estate agents on its website and offering additional advertising products to those agents. The ads are visible to users who search for the area chosen by the estate agent. Individuals selling property privately (i.e. directly without an agent) are prohibited from advertising on the site. Each month, Rightmove release a House Price Index, illustrating any changes in the asking prices of houses throughout England and Wales.[6]

See also

References

  1. ^ a b c d e "Annual Report 2016" (PDF). Retrieved 23 April 2017. 
  2. ^ a b Rightmove: History
  3. ^ The Financial Times (10 March 2006). "Pricing of IPO values Company at £425m". Retrieved 4 May 2009. 
  4. ^ The Independent (17 May 2008). "HBOS sells stake in Rightmove". Retrieved 17 May 2008. 
  5. ^ Gregersen, Hal. "Behind Rightmove's Extraordinary Growth". Forbes. Retrieved 2017-10-12. 
  6. ^ Rightmove. "House Price Index". rightmove.co.uk. Retrieved 3 April 2015. 

External links

Official website

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