x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

Ex-Virgin chief to chair Boomin as portal seeks £25m - report

Sky News is reporting that new portal Boomin is to announce the former chief executive of Sir Richard Branson’s business empire as its chairman.

Stephen Murphy, who spent 17 years at the Virgin Group, is to be officially named in the role later today.

Sky News says: “His appointment comes as Mr [Michael] Bruce finalises the first stage of a £25m fundraising for the new portal, which will compete with listed peers such as Rightmove and OnTheMarket.”

Advertisement

It continues: “A source close to Boomin said the funding was being committed at a £100m post-money valuation.” 

The news service adds that DM Capital, a venture capital operation, was both an early backer of Purplebricks and is now one of the new shareholders at Boomin.

Sky was used by Purplebricks for a number of new announcements in the past, when Michael and Kenny Bruce were still controlling the agency. 

  • icon

    So It's all about helping agents. Yer Right! The pantomime continues.

  • icon

    Founder agents currently trying to work out when they'll be able to cash their chips in.

  • icon
    • N W
    • 13 April 2021 12:40 PM

    and its only time before the Bruce Brothers bail (2/3 years i guess) and cash in and then all bets are off re portal and consumer direct....... (if not before due to pressure if not enough agents give it the traction it needs - which is all they are interested in as far as the agents are concerned - this was always the plan guys and girls)

  • Welsh  Cynic

    I agree, the Bruce' plan is clearly to boost the share value and then cash them in, but if it breaks the throat grip that Rightmove have, it is still worth a punt.

icon

Please login to comment

MovePal MovePal MovePal
sign up