Property startup Zoopla and the A&N Media (DMGT)-owned Digital Property Group (Findaproperty / Primelocation) have formally completed their merger following approval by the UK’s Office of Fair Trading (OFT). The transaction, which was agreed last October, had been pending subject to clearance from the OFT which was granted in April.
The deal creates a property giant which now takes on Rightmove, currently the market leader in the UK.
Zoopla’s data focused strategy is winning over users – try finding out house price trends on Rightmove, they just don’t have the data. It’s an approach used by Zillow in the U.S. which has seen it eat into traditional competitors.
Zoopla has so far raised $10.7 million in funding from Atlas Ventures, Octopus Ventures and Silicon Valley Bank.
The newly company will be headed up by Alex Chesterman, Zoopla’s Founder and CEO, who will continue in the role of CEO. David Dutton, former Chairman of Digital Property Group (which owned Findaproperty) becomes Chairman.