An evidence-based, 100+ slide presentation looking at the top real estate portals from around the globe. It gives an illuminating view of best practices, emerging trends, growth strategies, and common insights and challenges.
An evidence-based, 100+ slide presentation looking at the top real estate portals from around the globe. It gives an illuminating view of best practices, emerging trends, growth strategies, and common insights and challenges.
An evidence-based, 130+ slide presentation looking at the top real estate portals from around the world. There's new content, updated data, and plenty of new analysis and insights on the global real estate portal space.
Compass, the self-styled tech-enabled brokerage, recently went public with a valuation of $6.5 billion. If you're in real estate, it's a business worth paying attention to. I'm pleased to offer all of my thoughts, observations, and insights on the recent IPO into a new (free) report!
The iBuyer Report is a 160+ slide, evidence-based look at the world of instant home buyers. Unmatched in its breadth and depth, it explores behind-the-scenes, national data and presents an unbiased strategic analysis of the sector, the players, and the implications for the industry.
The Future of Real Estate Portals (Preview)Mike DelPrete
This all-new, global research takes a deep look into the future of real estate portals. The focus areas include portals’ expansion into adjacent revenue streams, closer to the transaction vs. more of the transaction, a deep dive into Rightmove’s growth dilemma, the implications for investors, and more.
Everywhere you look this is significant innovation occurring in the real estate space. In this session, Mike DelPrete looks at new models that are gaining traction and disrupting real estate agents, and how property portals around the world are adapting to these changes. Finally, Mike dusts off the crystal ball and looks at the future of the online real estate industry.
2021 Emerging Models in Real Estate ReportMike DelPrete
The 2021 Emerging Models in Real Estate Report is focused on the fastest moving, biggest trends in residential real estate tech.
Follow the story of digital disruption, from the rise of online agencies in the U.K. to iBuyers and Power Buyers in the U.S. Track which models are disrupting traditional brokerage businesses, what's driving them on, what's holding them back, and how smart agents are responding.
An evidence-based, 100+ slide presentation looking at the top real estate portals from around the globe. It gives an illuminating view of best practices, emerging trends, growth strategies, and common insights and challenges.
An evidence-based, 130+ slide presentation looking at the top real estate portals from around the world. There's new content, updated data, and plenty of new analysis and insights on the global real estate portal space.
Compass, the self-styled tech-enabled brokerage, recently went public with a valuation of $6.5 billion. If you're in real estate, it's a business worth paying attention to. I'm pleased to offer all of my thoughts, observations, and insights on the recent IPO into a new (free) report!
The iBuyer Report is a 160+ slide, evidence-based look at the world of instant home buyers. Unmatched in its breadth and depth, it explores behind-the-scenes, national data and presents an unbiased strategic analysis of the sector, the players, and the implications for the industry.
The Future of Real Estate Portals (Preview)Mike DelPrete
This all-new, global research takes a deep look into the future of real estate portals. The focus areas include portals’ expansion into adjacent revenue streams, closer to the transaction vs. more of the transaction, a deep dive into Rightmove’s growth dilemma, the implications for investors, and more.
Everywhere you look this is significant innovation occurring in the real estate space. In this session, Mike DelPrete looks at new models that are gaining traction and disrupting real estate agents, and how property portals around the world are adapting to these changes. Finally, Mike dusts off the crystal ball and looks at the future of the online real estate industry.
2021 Emerging Models in Real Estate ReportMike DelPrete
The 2021 Emerging Models in Real Estate Report is focused on the fastest moving, biggest trends in residential real estate tech.
Follow the story of digital disruption, from the rise of online agencies in the U.K. to iBuyers and Power Buyers in the U.S. Track which models are disrupting traditional brokerage businesses, what's driving them on, what's holding them back, and how smart agents are responding.
This report is a 150+ slide, evidence-based look at the world of instant home buyers. Unmatched in its breadth and depth, it explores behind-the-scenes, national data and presents an unbiased strategic analysis of the sector, the players, and implications for the industry.
Inside Opendoor: what two years of transactions say about their prospectsMike DelPrete
A data-driven analysis of Opendoor, the real estate disruptor, looking at its business model and traction since launch. Based on actual MLS data in its launch markets.
What You Need To Know About iBuyer’s
In this webinar you will find out …
What an ibuyer is.
What mindset an Agent must have to compete.
What the consumer experiences are.
How to compete with ibuyers.
How to communicate with your database.
Property portals around the world have ready access to a vast range of information on home sales and rental prices. From these, it is possible to create a series of market indices that can track the performance of a market.
ZAP in Brazil has partnered with FIPE (Institute of Economic Research Foundation) to create a series of FipeZAP indices covering sales and rentals. This session looks at how they approached this and the lesson learned in building these indices.
2018 Emerging Models in Real Estate ReportMike DelPrete
A 190+ slide presentation where I take a global view of emerging models in real estate that are changing the way consumers buy and sell houses. It’s a data-heavy, representative scan of the market that pulls out facts, highlights insights and draws conclusions.
eMarketer Webinar: Key Digital Trends for 2012eMarketer
Please join us for this webinar featuring eMarketer Principal Analysts David Hallerman, Debra Aho Williamson and Noah Elkin. To get you ready for the upcoming year, they’ll be covering a variety of topics including digital advertising, social media, mobile devices and platforms, video, and digital audience, content and commerce.
Global Trends in the Property Portal Industry - Presentation at the Property ...Property Portal Watch
Presentation by Simon Baker at the Property Portal Watch Conference in Amsterdam (October 2015) about trends occurring in the property portal / online real estate industry
A preview of the Cushman & Wakefield Global Investment Atlas 2018. It reviews international investment patterns from 2017 and anticipates market performance for the year ahead. The latest iteration of the report, published annually, shows the highest level of real estate investment on record with a total of US$1.62tn compared to US$1.43tn in 2016 and anticipates a further improvement in 2018.
2018 Emerging Models in Real Estate Report Shared by Dawayne ButlerDawayne David Butler
Go through this presentation of more the 190 slides for emerging models in real estate reports in 2018. Keep in touch with Dawayne Butler for more updates, news and events at https://dawaynedavidbutler.wordpress.com
Global Trends in the Property Portal Industry - Simon Baker, Executive Chairm...Property Portal Watch
An in depth look at the trends impacting the global property portal industry by Simon Baker, the founder of Property Portal Watch, the former CEO/MD of the REA Group, the former Chairman of iProperty Group and a serial investor in the property portal industry
This report is a 150+ slide, evidence-based look at the world of instant home buyers. Unmatched in its breadth and depth, it explores behind-the-scenes, national data and presents an unbiased strategic analysis of the sector, the players, and implications for the industry.
Inside Opendoor: what two years of transactions say about their prospectsMike DelPrete
A data-driven analysis of Opendoor, the real estate disruptor, looking at its business model and traction since launch. Based on actual MLS data in its launch markets.
What You Need To Know About iBuyer’s
In this webinar you will find out …
What an ibuyer is.
What mindset an Agent must have to compete.
What the consumer experiences are.
How to compete with ibuyers.
How to communicate with your database.
Property portals around the world have ready access to a vast range of information on home sales and rental prices. From these, it is possible to create a series of market indices that can track the performance of a market.
ZAP in Brazil has partnered with FIPE (Institute of Economic Research Foundation) to create a series of FipeZAP indices covering sales and rentals. This session looks at how they approached this and the lesson learned in building these indices.
2018 Emerging Models in Real Estate ReportMike DelPrete
A 190+ slide presentation where I take a global view of emerging models in real estate that are changing the way consumers buy and sell houses. It’s a data-heavy, representative scan of the market that pulls out facts, highlights insights and draws conclusions.
eMarketer Webinar: Key Digital Trends for 2012eMarketer
Please join us for this webinar featuring eMarketer Principal Analysts David Hallerman, Debra Aho Williamson and Noah Elkin. To get you ready for the upcoming year, they’ll be covering a variety of topics including digital advertising, social media, mobile devices and platforms, video, and digital audience, content and commerce.
Global Trends in the Property Portal Industry - Presentation at the Property ...Property Portal Watch
Presentation by Simon Baker at the Property Portal Watch Conference in Amsterdam (October 2015) about trends occurring in the property portal / online real estate industry
A preview of the Cushman & Wakefield Global Investment Atlas 2018. It reviews international investment patterns from 2017 and anticipates market performance for the year ahead. The latest iteration of the report, published annually, shows the highest level of real estate investment on record with a total of US$1.62tn compared to US$1.43tn in 2016 and anticipates a further improvement in 2018.
2018 Emerging Models in Real Estate Report Shared by Dawayne ButlerDawayne David Butler
Go through this presentation of more the 190 slides for emerging models in real estate reports in 2018. Keep in touch with Dawayne Butler for more updates, news and events at https://dawaynedavidbutler.wordpress.com
Global Trends in the Property Portal Industry - Simon Baker, Executive Chairm...Property Portal Watch
An in depth look at the trends impacting the global property portal industry by Simon Baker, the founder of Property Portal Watch, the former CEO/MD of the REA Group, the former Chairman of iProperty Group and a serial investor in the property portal industry
The seed stage of the venture capital industry went through a boom cycle from 2006-2014 but has lately seen a sharp decline. What's happening? Is it temporary or are their structural problems? This deck answers that question.
Can Nio Stock Reach $1,000 or Not? NIO Stock ForecastLinda William
Theoretically, it’s possible that Nio stock can reach $1,000. Still, this scenario is not too likely, as the Nio stock price would have to increase by more than 91.5x from this current price to reach $1,000.
Nio impressed investors in 2020 in 2021, when the stock displayed an incredibly rally, which ultimately peaked at an all-time high price of just under $62. Since then, Nio stock has undergone a steep price correction, which reached as low as $7.56 in June of 2023. With the stock still at a deep discount compared to its all-time high, Nio is certainly worth a closer look.
We’ll explore what would need to happen for the Can Nio Stock Reach $1,000, and analyze the company’s key growth drivers for the future. Of course, we’ll also consider what could go wrong for Nio investors and provide a Nio stock forecast for 2023 and 2024.
Classifieds - Presentation by Gonzalo del Pozo, CEO of Mitula Group at the NOAH 2015 Conference in London, Old Billingsgate on the 13th of November 2015.
The Local On Demand Economy. Who's making money in local? Where's the money...Simon Greenman
I have been around local, a long long time, and there is a fundamental question that has been bothering me – who’ s making money in local? It used to be easy to answer this question - consumers used the newspapers and yellow pages to find local businesses. Margins were monopoly like and the newspapers and yellow pages were printing cash in the billions. Today consumers have a plethora of choices from Google to Yelp and increasingly verticalised mobile first on demand local services. Investors are pouring in. Thumbtack and Porch have raised $100M+; Handy $60M; Washio $17M; DogVacay $47M. And now Amazon, Google and newbies such as Curbside are trying to figure out the last mile of same day home delivery and pickup. Integrated local marketing agencies such as ReachLocal, Yodle, Web and Godaddy are fighting for the small local SMB marketing wallets. So who is really making the money today and who will make it tomorrow?
Digital Disruptors Conference - an investment framework for online stock inve...George Gabriel
We hosted the Digital Disruptors Conference in October 2015. We brought together the entire range of investors - institutional funds, superannuation funds, intermediaries, high net worths and advisers. We introduced a number of online companies to the investor market, and also dived deeper into some well-known names. The companies may change, but the analytical framework remains useful and valid.
Real Estate Investment Business Plan PowerPoint Presentation Slides SlideTeam
If you are into the real estate business, then it is very likely you will need to present investment plan to target buyers. That is why our team of expert designs and researchers have come up with 61 slides Real Estate Investment Business Plan PowerPoint Presentation Slides. This PowerPoint presentation on real estate business will surely save you a lot of time and resources. As compared to making a PPT presentation from scratch. This real estate PowerPoint presentation example has various slides like real estate snapshot, executive summary, market activity, real estate trends and demand, real estate opportunities, market analysis, market outlook, real estate sales growth, real estate home sales, real estate price index, real estate mortgage rates, real estate REO, and many more. This PPT on real estate business plan will provide necessary information to land developers and people working in the real estate business. This predesigned property investment PowerPoint presentation is fully editable and can be customized according to your needs. You can use this PowerPoint presentation on real estate business for topics like real property, residential premises, residential trends, land development, premises investing, real estate economics, land appraisal, estate industry overview etc. Close your business deal with our Real Estate Investment Business Plan PowerPoint Presentation Slides. Hurry up! Download this real estate PowerPoint presentation and get those potential buyers. Bring the core concept into clear focus with our Real Estate Investment Business Plan PowerPoint Presentation Slides. Identify important elements of the doctrine.
The investment potential of growth capital and the digital economyAxon Partners Group
Growth capital is becoming a key area of investment, especially in the digital media sector. Axon Partners Group investigates its potential for high returns in comparisons to areas like Venture Capital and real estate, and highlights case studies that have hit the headlines in recent years.
The 2013 Halo Report finds angel investment activity on the rise with more high-valuation deals closed in 2013 than in 2012. While median round sizes held steady at $600K per deal, they were at a three year high when angels co-invested with non-angels. The share of angel investment in Internet, healthcare and mobile startups continued to increase. Golden Seeds, Tech Coast Angels, and Houston Angel Network, which is new to the list, were the three most active angel groups in 2013. With a continued progression toward more even distribution of investments nationally, entrepreneurs throughout the country are likely to find it easier to access angel investors for critical early stage funding. The Halo Report, put together by the Angel Resource Institute, Silicon Valley Bank and CB Insights, includes aggregate analysis of investment activity by angel investors and angel investment groups, highlighting trends in round sizes, pre-money valuations, and industry investment preferences.
What does 2017 hold for the Innovation Economy? In the latest State of the Markets report, SVB Analytics took a rear-view approach, identifying the factors that mattered most in 2016 and examining which trends and themes will play out in 2017.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Monitoring Java Application Security with JDK Tools and JFR Events
2017 Global Real Estate Portal Report
1. 2017 Global Real Estate
Portal Report
September 2017
Prepared by Mike DelPrete
2. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
3. A global snapshot
This report looks at over a dozen of the
top real estate portals from around the
globe.
This work requires data, so the analysis
naturally focuses on portals where data is
available (typically public companies).
Looking at the best in the world gives us
a clear window into best practices,
emerging trends, growth strategies, and
common insights and challenges.
I am the former head of strategy at a top
portal, and have spent the past two years
independently focused on the world of
real estate portals.
4. Real estate classifieds are big businesses around
the globe, in terms of revenue and profit (EBITDA).
Zillow
ZILLOW
Rightmove
RIGHT
MOVE
SeLoger
Trade Me
REA
IS24
SELOGER
IS24
REA
TMP
Move
Domain
Hemnet
Immoweb
DOMAIN
HEMNET
IMMOWEB
iProperty
iPROPERTY
MOVE
IS24
MoveLEGEND
REVENUE
EBITDA
5. There are clear leaders in terms of overall revenue
and profitability.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
REA Group Immobilien
Scout24
Rightmove SeLoger Domain Zoopla
Property
Services
Zillow
Group
Immoweb Trade Me
Property
Hemnet Move
Millions(USD)
Full Year Financial Comparison
Revenues EBITDA
www.mikedp.com
6. Yearly revenue growth varies significantly, with
impressive upside even in mature markets.
6.7%
7.3%
8.5%
9.0%
10.3%
14.0%
14.5%
15.9%
18.8%
31.3%
39.0%
45.0%
55.0%
0% 10% 20% 30% 40% 50% 60%
Immobilien Scout24
Trade Me Property
Zoopla Property Services
Domain
SeLoger
REA Group
Rightmove
Immoweb
Move
Zillow Group
Hemnet
Ingatlan
Otodom
Year on Year Revenue Growth
Struggling
#2’s in their markets
Global leaders
U.S.
Under new management
Small base
7. 0% 10% 20% 30% 40% 50% 60% 70% 80%
Zillow Group
iProperty
Hemnet
Domain
Zoopla Property Services
SeLoger
Immobilien Scout24
REA Group
Trade Me Property
Immoweb
Rightmove
EBITDA Profit Margins
Dominant, well-run portals are incredibly
profitable. Zillow is the outlier, investing to grow.
8. Another way to look at profitability is how much
revenue each portal collects per $100 spent.
Breakeven
$0 $50 $100 $150 $200 $250 $300 $350 $400 $450
Zillow Group
Hemnet
Domain
Zoopla Property Services
SeLoger
Immobilien Scout24
REA Group
Trade Me Property
Immoweb
Rightmove
Revenue Collected per $100 Spent
9. Organizational efficiency is variable, as measured
by revenue per employee.
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000
Zoopla Property Services
Zillow Group
Trade Me Property
REA Group
Move
Domain
Hemnet
Immoweb
Immobilien Scout24
Rightmove
Revenue per Employee
Nearly double the
lower end of the
spectrum.
10. $0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Rightmove Zillow IS24
Revenue per Employee
2013 2014 2015 2016
www.mikedp.com
The growth of revenue per employee is varied,
with some slowing while others accelerate.
Flat
Slowing
Accelerating
Rightmove saw a big jump in employees during FY16, while IS24’s employee
count has been dropping since 2015 (from 681 to 631 in Q2 2017).
11. Revenue per capita for the major global portals
varies based on market maturity and structure.
$0 $5 $10 $15 $20 $25
iProperty
Otodom
Ingatlan
Move
Zoopla Property Services
Hemnet
SeLoger
Zillow Group
Immoweb
Immobilien Scout24
Rightmove
Trade Me Property
Domain
REA Group
Revenue (USD) per person
Revenue per Capita
$21.60
$0.08
12. Revenue per capita is much higher in some
markets due to structural differences.
$0 $5 $10 $15 $20 $25
iProperty
Otodom
Ingatlan
Move
Zoopla Property Services
Hemnet
SeLoger
Zillow Group
Immoweb
Immobilien Scout24
Rightmove
Trade Me Property
Domain
REA Group
Revenue (USD) per person
Revenue per Capita
In Australia and New Zealand, home sellers
pay their own marketing expenses,
resulting in much higher revenues per
listing relative to total population.
13. Revenue per capita in emerging and developing
markets is well below more mature markets.
$0 $5 $10 $15 $20 $25
iProperty
Otodom
Ingatlan
Move
Zoopla Property Services
Hemnet
SeLoger
Zillow Group
Immoweb
Immobilien Scout24
Rightmove
Trade Me Property
Domain
REA Group
Revenue (USD) per person
Revenue per Capita
$0.08 – Southeast Asia
$0.29 – Poland
$0.80 – Hungary
14. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
15. Generally, market-leading portals have between
1.5x – 3x the traffic of the runner-up portal.
3.0x 3.0x
2.7x
2.5x 2.4x
2.2x
1.7x
0.0x
1.0x
2.0x
3.0x
4.0x
US Poland Belgium NZ AU UK GER
Global Portal Traffic Leads
www.mikedp.com
16. The larger the traffic multiple, the stronger the
competitive position (with more pricing power).
Yearly revenue growth of the leading portal is roughly
correlated to having a larger traffic lead.
3.0x 3.0x
2.7x 2.5x 2.4x 2.2x
1.7x
0%
10%
20%
30%
40%
50%
60%
0.0x
1.0x
2.0x
3.0x
4.0x
US Poland Belgium NZ AU UK GER
Global Portal Traffic Leads
Traffic Lead Yearly Revenue Growth
www.mikedp.com
17. Globally, runner-up portals collect about 40% of
the revenue of the leading portals in each market.
0%
10%
20%
30%
40%
50%
$0
$100
$200
$300
$400
$500
$600
Australia (FY17) U.K. (FY16) U.S. (Q2 17) Ger (Q1 17)
Millions(USD)
Relative Revenues for Runner-up
Portals
Top Portal Runner-up Portal Revenue Ratio
www.mikedp.com
18. Growth across three of Europe’s leading portals
has been predictable and steady.
156
80
108
285
128
244
0 €
80 €
160 €
240 €
320 €
IS24 SeLoger Rightmove
Revenue Growth Across Europe
2011 2012 2013 2014 2015 2016
www.mikedp.com
19. And when we throw Zillow into the mix, we see
what a growth monster it is!
156
80
108 99
285
128
244
720
0 €
200 €
400 €
600 €
800 €
IS24 SeLoger Rightmove Zillow
Revenue Growth Across Europe
2011 2012 2013 2014 2015 2016
www.mikedp.com
Wow!
20. ARPA growth is consistent between portals,
driven from price rises and premium offerings.
$0
$200
$400
$600
$800
$1,000
$1,200
2012 2013 2014 2015 2016
Average Monthly Revenue per
Advertiser (USD)
Zoopla Rightmove Zillow Group
Immobilien Scout24 SeLoger Immoweb
www.mikedp.com
Up around 12%-15% each year
21. But REA Group in Australia is a world-leader,
effectively in a league of its own.
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
2012 2013 2014 2015 2016
Average Monthly Revenue per
Advertiser (USD)
Zoopla Rightmove Zillow Group
REA Group Immobilien Scout24 SeLoger
Immoweb
www.mikedp.com
22. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
23. 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Rightmove REA Group Trade Me
Property
Zillow Scout24 Zoopla
% Revenue from Agents
www.mikedp.com
Major portals generate most of their revenue
through real estate agents.
Other revenue sources include direct listings, display ads, new
construction, data sales, and ancillary revenue streams.
24. The more revenue that comes from agents, the
more difficult it is for the portal to disrupt them.
0% 20% 40% 60% 80% 100%
Zillow's Revenue Sources
Premier Agent Mortgages Other RE Display
0% 20% 40% 60% 80% 100%
Zoopla's Revenue Sources
Agents New Homes Other Property Comparisons
0% 20% 40% 60% 80% 100%
REA Groups's Revenue Sources (AU)
Agents Media display & other
25. Many agents in the U.S. are worried Zillow will
disrupt them, but it’s clearly not diversifying.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Q1
13
Q2
13
Q3
13
Q4
13
Q1
14
Q2
14
Q3
14
Q4
14
Q1
15
Q2
15
Q3
15
Q4
15
Q1
16
Q2
16
Q3
16
Q4
16
Q1
17
Q2
17
Zillow's % Revenue from Agents
www.mikedp.com
It is exceedingly unlikely that Zillow
would put 70 percent of its revenue at risk.
26. However, Zoopla in the U.K. is has clearly
diversified its revenue sources.
0%
10%
20%
30%
40%
50%
60%
70%
80%
FY14 FY15 FY16 H1 17
Zoopla's % Revenue from Agents
www.mikedp.com
While Zoopla is better positioned in terms of revenue
diversification, agents are still a big customer.
27. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
28. Driving premium revenues
Premium = agents paying more for
enhanced exposure. They typically
compete against each other for
enhanced placement of their
listings and agent branding.
Premium revenues are above and
beyond subscription revenues for
listings.
29. Revenue from premium features varies wildly at
different portals.
0%
20%
40%
60%
80%
100%
REA Group Domain Rightmove Trade Me IS24
Percentage of Revenues from Premium
www.mikedp.com
Just
starting
30. Rightmove shows a steady drive towards higher
customer spend each month.
Driven by price rises and
premium feature adoption.
31. $55 $56
$93 $95
$407
$482
$0
$100
$200
$300
$400
$500
$600
$700
FY2016 FY2017
Millions(AUD)
REA Group's Australian Revenue
Subscription revenue Media display & other Listing depth revenue
www.mikedp.com
All of REA Group’s revenue growth is coming from
premium and depth products.
Flat
32. REA has mastered the art of the upsell, pushing
customers to more expensive premium products.
34. Pricing for REA’s premium products in Australia’s
major cities can be…quite expensive.
Remember, the average revenue per
advertiser is upwards of $3,000 AUD.
35. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
36. Ancillary revenue streams: Lead generation and
mortgages
Lead generation is one of the largest
ancillary revenue streams for real estate
portals.
This is especially the case with world
leaders in mature markets.
#1 in U.S. #2 in U.K. #1 in Australia
37. A leader in the space, Zillow has consistently
grown its mortgage lead gen revenues.
2016 Revenue
contribution
Mortgages revenue
38. Mortgage revenues grew while the number of
leads dropped, the result of an improved product.
Higher quality leads = more valuable leads
$44
$71
46.8
29.9
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
0
20
40
60
80
FY15 FY16
Millions
Zillow's Mortgage Business
Revenue Leads ARPL
www.mikedp.com
Average
Revenue
Per Lead
(ARPL)
39. Zoopla’s comparison business continues to grow
both revenues and leads, while driving ARPL up.
£80
£111
24.8
30.3
£0.00
£1.00
£2.00
£3.00
£4.00
£5.00
0
30
60
90
120
FY15 FY16
Millions
Zoopla's Comparison Business
Revenue Leads ARPL
www.mikedp.com
41. In Australia, REA Group acquired a majority stake
in mortgage broking business Smartline.
REA Group announced
in June 2017 that it
had taken an 80%
stake in mortgage
broking business
Smartline for $67
million AUD.
42. Zillow REA Group
REA Group is projecting mortgage revenues as a
percent of total on par with that of Zillow.
8% 5%
$71 million in FY 2016 $26-$30 million in FY 2018
(Company estimates)
43. The leaders in the field offer deep integrations
across their sites, critical to their success.
44. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
45. Zillow’s expenses have consistently outstripped
revenues. It’s investing for growth.
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
2012 2013 2014 2015 2016 2017F
Millions
Zillow's Yearly Revenue and Expenses
Revenue Expenses
46. $0
$50
$100
$150
$200
$250
$300
Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017
Millions
Zillow's Quarterly Revenue and Expenses
Revenue Expenses
Expenses came in line with revenues for three
quarters, but are back up in Q2 2017.
48. Zillow’s growth is being driven by its premier
agent program.
$0
$100
$200
$300
$400
$500
$600
$700
FY12 FY13 FY15 FY16
Millions
Zillow's Revenue Sources
Premier Agent Other Mortgages Display
www.mikedp.com
49. The premier agent program pits agent against
agent, delivering leads to the highest bidders.
51. Zillow’s Adjusted EBITDA does not paint an
accurate picture of the business’s performance.
Zillow’s Adjusted EBITDA excludes stock-based compensation
(SBC) expense. Excluding this cost paints an inaccurate
picture of the business’s performance and profitability; my
analysis adds it back in.
“If compensation isn't an expense, what is it? And, if real and
recurring expenses don't belong in the calculation of
earnings, where in the world do they belong?”
– Warren Buffett
Tech giants like Amazon and Facebook started including
stock-based compensation in their results. For more, check
out: Amazon, Facebook Admit Stock Compensation Is A
Normal Cost.
52. To arrive at a true EBITDA figure for FY16, I’ve
backed out litigation expense and included SBC.
$14.8
$130.0
$106.9
$37.9
$0
$40
$80
$120
$160
Adjusted EBITDA Back out litigation
expense
Stock-based
compensation
EBITDA
Adjusted EBITDA -> EBITDA
53. Zillow has a high SBC component compared to
global peers (but not unusual for U.S. firms).
0%
2%
4%
6%
8%
10%
12%
14%
Zillow Group Zoopla Rightmove Immobilien
Scout24
REA Group
Stock-based Compensation as % of
Revenue
www.mikedp.com
Down from
16% in FY15
54. How big can Zillow become? It likes to use the
following chart in investor presentations.
The value of a business shouldn’t be tied to the overall
commission pool, but rather how well the business is able
to provide value and monetize its customers.
55. Zillow’s revenue as a percentage of the total
commission pool is indeed small…
10.6%
6.0%
5.5%
4.3%
2.9%
1.4%
0%
2%
4%
6%
8%
10%
12%
REA Group Rightmove Zoopla Immobilien
Scout24
Trade Me Zillow
Revenue as % of Commission Pool
www.mikedp.com
56. …but its enterprise value is a whopping 161 times
greater than its non-adjusted EBITDA.
13x 18x
8x 7x
21x 24x 21x
161x
0x
40x
80x
120x
160x
200x
REA Group Rightmove Zoopla Zillow
Enterprise Value Multiples
EV/Revenue EV/EBITDA
www.mikedp.com
57. $0 $5 $10 $15 $20 $25
iProperty
Otodom
Ingatlan
Move
Zoopla Property Services
Hemnet
SeLoger
Zillow Group
Immoweb
Immobilien Scout24
Rightmove
Trade Me Property
Domain
REA Group
Revenue (USD) per person
Revenue per Capita
Zillow’s revenue per capita is in line with global
peers, with modest upside. How big can it get?
Peer group excludes Australia and New
Zealand, where home sellers pay their own
marketing (resulting in overly high ARPA),
and emerging markets.
If Zillow’s revenue per capita increased to
$4, its revenues would be $1.25 billion.
58. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
59. $0
$50
$100
$150
$200
$250
$300
Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17
Millions
U.S. Portal Revenue Growth
Zillow Realtor.com
www.mikedp.com
Both U.S. portals are growing revenues, but Zillow
is growing faster (and from a larger base).
Up 58%
Up 24%
60. Move revealed adjusted EBITDA in January-March
2017, showing the exact same margin as Zillow.
$100
$246
$22
$55
$0
$100
$200
$300
Move Zillow
Millions
Q1 2017 Results
Revenue Adjusted EBITDA
22% margin
22% margin
61. Zillow is maintaining a strong lead in traffic over
Realtor.com, and it’s not budging.
3.1x 3.2x 3.1x 3.2x 3.1x 3.2x 3.0x 3.1x
0x
1x
2x
3x
4x
0
40
80
120
160
200
Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17
AverageMonthlyUniques(millions)
Top Portal Traffic Lead in U.S.
Traffic Lead Zillow Realtor.com
www.mikedp.com
62. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
63. Competing strategies in the U.K.: Rightmove and
Zoopla
More than any other real estate portals in
the world, Rightmove and Zoopla have
adopted divergent strategies in the U.K.
Rightmove is narrowly focused and Zoopla
is broadly diversified. But both are
succeeding in different ways.
64. Zoopla’s strategy is geared towards diversification
and creating a “huge cross-sell opportunity.”
65. While Rightmove is solely focused on being the
best marketplace to advertise property.
66. Rightmove has delivered consistent revenue
growth, but Zoopla is making impressive gains.
£0
£50
£100
£150
£200
£250
£300
2013 2014 2015 2016 2017F
Millions
Rightmove vs. Zoopla Revenue
Rightmove Zoopla
www.mikedp.com
67. Rightmove is growing revenue through high-
margin portal advertising products.
0%
10%
20%
30%
40%
50%
60%
70%
80%
£0
£50
£100
£150
£200
£250
2013 2014 2015 2016
Millions
Rightmove's Revenue Growth
Portal New Homes Other EBITDA %
www.mikedp.com
68. While Zoopla’s growth is coming from ancillary
revenue streams with lower profit margins.
0%
10%
20%
30%
40%
50%
60%
£0
£40
£80
£120
£160
£200
£240
2013 2014 2015 2016
Millions
Zoopla's Revenue Growth
Portal Other Property Comparison EBITDA %
www.mikedp.comwww.mikedp.com
69. 52
13
28
57
30
111
£0
£40
£80
£120
£160
£200
Portal Other Property Comparison
Millions
Zoopla Revenue
2013 2014 2015 2016
www.mikedp.com
Zoopla’s property portal revenue is effectively flat.
The core portal business is barely growing.
New
revenue
streams
Ancillary
Flat
70. Partially a result of inventory levels never fully
recovering since OnTheMarket’s entry in 2015.
Used with permission from Exane BNP Paribas Research
Zoopla’s Inventory Levels
71. Zoopla diversified by spending approximately
£450 million on acquisitions since 2015.
Company Purchase Price Acquisition Date Products & Services
uSwitch £160 million April 2015 Comparison services
Property Software
Group
£75 million April 2016
Estate agency back
office systems
Technicweb £7 million (estimated) November 2016
Designing websites for
the property sector
Hometrack £120 million January 2017
Data provider to
lenders, investors and
home buyers
Expert Agent £7 million (estimated) March 2017
Estate and letting
agency software
provider
Ravensworth unknown September 2017 Print marketing
Money.co.uk £80 million September 2017
Financial products
comparison.
72. Zoopla’s seven acquisitions will generate around
75% of total group revenues in 2017.
These seven acquisitions
will generate around £185
million in annualized
revenue in 2017, compared
to their aggregated
purchase price of around
£450 million.
Annualized estimates based on HY17 results.
Zoopla’s strategy–born of necessity–is paying dividends.
uSwitch
PSG
Technicweb
Expert Agent
Hometrack
Money.co.uk
Portal
Zoopla's Revenue Breakdown
73. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
74. Portal homepage analysis
A portal’s homepage is a reflection
of its strategy.
Reviewing the designs of each—
what they include, exclude, and
where the focus lies—gives us
insight into what each portal
deems important.
These interfaces are the result of
years of research, learning, and
iteration around creating the ideal
visitor experience.
87. Avito, the horizontal, runs a real estate vertical,
Domofond, to provide a tailored experience.
88. A review of the portal homepages reveals several
common trends.
• Almost all of the portals are laser-focused on a simple
search experience.
• All of the portals have links to find agents.
• Only the U.S. portals include mortgage links.
• Only the U.K. portals include overseas property links.
• U.K., Australia, and New Zealand have links to
commercial property.
• All portals include links to home valuations
• Several portals include links to home design, inspiration
or real estate news.
89. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
90. Rightmove is launching data-driven products to
agents that drive efficiency and transparency.
91. Trade Me has launched an agent hub and
property insights (valuation and sales history).
92. REA is innovating in emerging technologies and
launching products across all customer groups.
94. In France, SeLoger is focused on products and
services underpinned with data.
95. Zillow is launching products to help its agent
customers manage leads through the platform.
96. Move has recently launched ”My Home”–a data-
driven home portal–and a mobile AR app.
97. Mobile usage continues to rise, leading to a
mobile-first product development strategy.
0% 20% 40% 60% 80% 100%
Trade Me Property
Rightmove
Zoopla
Immobilien Scout24
Zillow
Proportion of Mobile Visits
www.mikedp.com
98. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
99. Five years of M&A activity
This M&A analysis covers
investments and acquisitions made
by seven of the top global portals
between 2012 and 2017.
The data sources are public
records and financial reports. In
some cases, deal size estimates
have been made.
Twenty-nine deals are included in
this analysis, excluding Zillow’s
2015 acquisition on Trulia for $2.5
billion.
100. The largest M&A activity occurred in 2015.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
2012 2013 2014 2015 2016 2017
Millions
Total M&A Over Time
www.mikedp.com
101. For the scope of this analysis, I’ve defined the
following categories…
Category Description
Domestic Building domestic market share.
International Expansion beyond the home country.
Ancillary
New revenue streams related to property advertising (ex: utility switching, mortgages,
rental applications).
Data Data collection, management, and presentation tools, and monetization thereof.
Agents Tools and products for real estate agents (that they pay for).
Consumer
Products and technologies designed to directly improve the consumer experience on
the real estate portal (ex: improved search, virtual home decorating).
102. Here we have the total number of investments
and acquisitions between 2012-2017.
Company Domestic International Ancillary Data Agents Consumer
Zillow 4 1 2 1 1
REA Group 3 3
Zoopla 2 1 4
Rightmove 1
Move 2 1
Immobilien
Scout24
3 2 1
Domain 3 1
103. Total deal flow (where known) from investments
and acquisitions between 2012-2017.
Company Domestic
Inter-
national
Ancillary Data Agents Consumer Total
Zillow $85M $17M $7M $108M $10M $227M
REA Group $749M $32M $781M
Zoopla $317M $159M $118M $594M
Rightmove $3M $3M
Move $22M $28M
Immobilien
Scout24
$3M $66M $37M $105M
Domain $12M $24M $44M
104. Zillow has a varied approach to M&A, focused on
building domestic market share and agent tools.
0
1
2
3
4
$0
$30
$60
$90
$120
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
Zillow's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
105. REA Group has invested massively in international
expansion (India, U.S. and Southeast Asia).
0
1
2
3
4
$0
$200
$400
$600
$800
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
REA Group's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
106. Zoopla has been focused on ancillary and value-
added services for estate agents.
0
1
2
3
4
$0
$90
$180
$270
$360
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
Zoopla's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
107. Rightmove made its first acquisition in 2016 in
support of its agent-focused strategy.
0
1
2
3
4
$0
$10
$20
$30
$40
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
Rightmove's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
108. Move has spent modestly in support of additional
products and services for agents.
0
1
2
3
4
$0
$10
$20
$30
$40
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
Move's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
109. IS24 has invested internationally, built domestic
market share, and supported its agent customers.
0
1
2
3
4
$0
$20
$40
$60
$80
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
IS24's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
110. Domain has invested in ancillary revenue streams
and data acquisition.
0
1
2
3
4
$0
$10
$20
$30
$40
Domestic International Ancillary Data Agents Consumer
Numberofdeals
Millions
Domain's 5-year M&A Activity
Investment total Number of deals
www.mikedp.com
111. Looking at total M&A expenditure as a percentage
of revenue shows relative activity levels.
1%
7%
27%
28%
37%
172%
227%
0% 50% 100% 150% 200% 250%
Rightmove
Move
Zillow
Domain
ImmobilienScout24
REA Group
Zoopla
M&A as a % of FY16 Revenue
www.mikedp.com
Remember: this excludes the
massive Trulia merger.
112. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
113. Exec team structures
A lot can be said for how a
company is organized, especially at
the top.
The composition of the exec team
gives us a window inside a
company’s strategy, and is where
the rubber hits the road when it
comes to execution and
responsibility.
114. 11
10
9 9 9
8
4
0
2
4
6
8
10
12
REA Group Zoopla Trade Me Zillow Move Domain Rightmove
Executive Team Sizes
www.mikedp.com
In general, exec team sizes are quite large and
reflective of growth strategy complexity.
Most active in M&A = biggest
exec teams to support.
115. REA is structured along functional and divisional
lines, and has roles focused on innovation & int’l.
REA Group’s Organizational Structure
• CEO
• CFO
• Chief Executive Officer, REA Group Asia
• Chief Inventor
• Chief Engineer
• CMO
• Executive General Manager, Commercial & Developer
• Executive General Manager, Residential
• Executive General Manager, Media
• Executive General Manager, Consumer Experiences
• General Counsel and Company Secretary
Domain Group’s Organizational Structure
• CEO
• CFO
• COO
• Chief Commercial Officer
• Chief Editorial & Marketing Officer
• Group Director, Domain Media
• CTO
• Managing Director, Domain Victoria
The only portal with an innovation-focused role on the exec team.
Divisional structure
International
116. Rightmove keeps it simple, while Zoopla’s
structure supports its diversification strategy.
Zoopla’s Organizational Structure
• CEO
• CFO
• Managing Director, Comparison
• Managing Director, Property
• Managing Director, Data
• CMO
• CPO
• CTO
• Chief Talent Officer
• Chief Strategy Officer
Rightmove’s Organizational Structure
• CEO
• Finance Director
• Head of Agency
• Head of Customer Experience
Data is quite important.
Super simple, and
focused on customers.
Reflective of Zoopla’s focus on M&A activity.
117. In the U.S., Zillow and Move keep relatively
straightforward structures (with a data focus).
Move’s Organizational Structure
• CEO
• CFO
• CPO
• CMO
• Executive Vice President, Industry Platforms
• Executive Vice President, Sales
• Executive Vice President, General Counsel and Secretary
• Senior Vice President, Business Development and Strategy
• Chief Economist
Zillow Group’s Organizational Structure
• CEO
• CTO
• COO
• Chief Analytics Officer
• CFO
• Chief Industry Development Officer
• Chief Business Officer
• Chief People Officer
• CMO
Reflective of the importance of data (for Zestimate valuations).
Industry outreach is critical in the U.S.
Data
118. Global Real Estate Portal Report 2017
A global snapshot
Growth and competition
Portal revenue streams
Driving premium revenues
Ancillary revenue streams: Lead generation and mortgages
A deeper look at Zillow
The U.S. market: Zillow vs. Move
Competing strategies in the U.K.: Rightmove and Zoopla
Portal homepage analysis
Themes in product development
Five years of M&A activity
Exec team structures
119. Mike is a strategic advisor and global expert in real
estate tech. He is a former tech entrepreneur and
head of strategy at a major real estate portal.
He has travelled the world talking to and working
with leading property portals and real estate tech
startups, gathering first-hand knowledge and
insights on industry trends and themes. He
advises corporates, works with startups, mentors
founders and executives, and works on
challenging entrepreneurial projects.
• www.mikedp.com
• mdelprete@gmail.com
About the author: Mike DelPrete
120. Hungry for more? The AIM Group’s Real Estate
Annual is coming soon.
The global battles raging in the real estate classifieds space have never been as dynamic and
exciting than today. In the U.S., Zillow Group is in a pitched fight against the industry; in
France, the top horizontal player is fighting against a reinforced vertical; in the U.K.,
competing growth strategies are center stage; and in Australia, a spun-out Domain relishes
the challenge to take on the dominant market leader.
Some of the stories in this year’s real estate annual:
• The battle for New York: Zillow’s StreetEasy vs. the industry
• Rightmove and Zoopla in the U.K.: Different strategies, similar successes
• Australia-based Domain relishes challenge to take on dominant market leader
• Ingatlan.com: One of the most innovative verticals in the world
• Schibsted’s giant horizontal faces off against Axel Springer’s verticals in France
• How Germany’s largest portal is reacting to proptech disruption
The 100+ page AIM Group real estate annual for 2017, coming soon, includes in-depth
reporting of real estate classified leaders in 31 countries; reviews ten emerging start-ups
from around the world, and highlights the latest products and services in the classifieds
landscape. Pre-order today!