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Purplebricks has received a media-for-equity investment from ITV.
The deal is worth up to £4.5m, the online agent said..
It is the first major investment in the brand since it was acquired in 2023 by Strike, through Sir Charles Dunstone’s Freston Ventures.
Sam Mitchell, chief executive of Purplebricks, said: "This is an exciting moment for Purplebricks as we partner with ITV in a significant media-for-equity deal.
"The process for buying and selling properties hasn’t changed in almost 200 years, but thanks to Purplebricks, customers are now able to sell their home for free, with no hidden costs. ITV will help us take that message to homes across Britain as we continue to build on the strong momentum of the past six months and look forward to further growth in the future."
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Blimey some people never learn!
Good lord almighty! Still struggling after all these years
Plenty commissery!
Deal will obviously help PB raise profile at a lower cost but if no cash injection involved, will not assist any cashflow aspects.
There's no denying they have changed the industry after all these years FOR THE WORSE!
There is one born every minute !
OMG
well now we will have the pain of watching the adverts all day and night.
My gut feeling is the report is codswallop
The blind leading the blind!
Three months running costs, drop in the ocean, and as ever the biggest winner for PB is the advertisers - they love virtual agencies who need to perpetually advertise as they have no bricks & mortar on the High Street. Purplebricks year end is a couple of months away let's see scores on the doors for year one - the only disruption here is to Dunstone's wallet.
Vanity projects always end badly, I mean does any vendor wake up and think I want to sell my home for free? No they think, I want to sell my property for the best price and get that agreed sale to exchange, proof of this well 16K estate agents doing just that.
Can the process be digitally improved for sure - but Purplebricks is not doing a single thing differently to other agents in fact it does not even have a sales team, so you could argue it is just a listing service, with portals bringing the buyer, if that was not the case why do they list on the portals?
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