Company type | Public |
---|---|
| |
Industry | Share Exchange |
Founded | 1995 |
Headquarters | 511 Church Street, , Australia |
Key people | Owen Wilson (CEO) Tracey Fellows (former CEO) |
Products | Real estate advertising |
Revenue | A$928 million (2021) [1] |
Website | www |
REA Group Ltd and its subsidiary companies, known as the REA Group, make up a global online real estate advertising company. REA Group is headquartered in Melbourne, Australia, with subsidiary offices in Wanchai, Hong Kong and Gurugram, India. [2]
REA Group, founded in 1995, is a public company listed on the Australian Stock Exchange (ASX: REA) and majority-owned by News Corp Australia, a subsidiary of News Corp.
The Group grew from realestate.com.au, Australia's largest property website with 4.4 million unique browsers each month. [3] However, the strategy has been to aggressively expand the group internationally through acquisition. [4]
In 2007, REA Group acquired 59% of casa.it in Italy, which was increased to 70% the year after, before acquiring 100% in 2011. That same year in February 2007, REA Group acquired atHome, [5] a group of real estate websites in Luxembourg, France, Germany and Belgium. [6]
UK Property Shop Ltd was acquired by REA Group in July 2008.
In August 2009, Zoopla acquired the PropertyFinder Group, [7] with combined annual revenues of £7 million, from prior owners the REA Group and News International for an undisclosed sum. [8]
In 2010, the company created an iOS mobile application for realestate.com.au. [6]
REA bought 20% of US company Move, inc. in 2014, [9] which runs the US real estate listings website Realtor.com. This was the company's first move into North America.
In July 2015, realestate.com.au announced a new agreement with Inspect Real Estate (IRE) making booking rental inspections easier for property managers and Australians looking to rent a home by implementing IRE's RegisterOnline property inspection booking button. [10]
In 2016, the company acquired flatmates.com.au, [11] as well as launching realestate.com.au, a virtual property app on Google Daydream. [6]
In January 2017, REA Group acquired 14.7% of digital real estate marketing platform, Elara Technologies (Elara). [12]
In June 2018, the company acquired 100% of Hometrack Australia, [13] a provider of property data services to the financial sector.
In 2020, the company earned A$820.3 million in FY20 revenue. [14] The company had over 2,600 employees and over 20 brands owned and invested in across 8 countries. [15]
In June 2021, REA Group acquired a 34% interest in Simpology Pty Limited (“Simpology”). [16] The company offers lodgment and digital mortgage application solutions[ buzzword ] for broking and lending industries. [17]
In September 2024, REA Group announced it was considering a cash and share takeover bid for Rightmove. The news caused Rightmove's shares to surge by 25%, raising its market value to £5.4 billion. REA had until September 30, 2024, to make a formal offer under UK takeover rules. Analysts noted that REA's interest in Rightmove seemed more financial than strategic, though the acquisition could offer valuable strategic insights and opportunities in mortgages and commercial property. [18]
Company type | Private |
---|---|
Industry | Digital |
Founded | 2007 |
Area served | Asia (Malaysia, Thailand, Singapore, Hong Kong, Indonesia, India) |
Key people | Henry Ruiz (CEO - REA Group Asia); Owen Wilson (CEO - REA Group) |
The company announced on 11 September, 2007, that it had made its first acquisition in Asia, with the purchase of Hong Kong's largest English-language property magazine, SquareFoot. [19]
In 2011, REA partnered with Thoughtworks, thereby expanding into Greater China. [6] Daniel Aragao, former lead architect at REA Group said of the collaboration in 2020, "The ThoughtWorks Technology Radar [20] allows us to compare our expectations with someone who's a thought leader in the industry and has an unbiased opinion. So it helps us to guide our decisions and what we're going to be adopting next." [21]
In 2013, the company launched myfun.com, continuing their Asia focus. [6]
In 2016, REA Group Asia then purchased iProperty Group and Brickz.my, both based in Malaysia. [22] The company also purchased thinkofliving and Prakard.com in Thailand. REA Group has three offices in Asia: in Bangkok, Hong Kong and Kuala Lumpur. [2]
In 2018, the company invested in India's Elara Technologies, the parent company of Housing.com, Makaan.com and PropTiger, before acquiring a controlling stake in Elara in 2020. [23]
In May 2021, REA Group merged their Southeast Asian assets with PropertyGuru, after years of battling with rivals for market dominance. The property sites concerned are situated in Malaysia and Thailand and will be transferred in exchange for an 18% stake in the company and a seat on the board. [24] [25]
In 2014, REA Group launched a partnership with Launch Housing, an organization tackling homelessness based in Melbourne. [26] The partnership funds support for women and children at risk of experiencing homelessness as a result of family violence. Investments include supporting Launch Housing's social enterprise HomeGround Real Estate, to providing skilled volunteers, to building Ikea furniture for families in need via the REA employee induction program. [27]
Elders Limited, formerly known as Elder, Stirling & Co., Elder Smith and Co. and Elder Smith & Co. Ltd, is an Australian agribusiness that provides agricultural goods and services to primary producers in Australia.
Rightmove plc is a British company which runs rightmove.co.uk, the UK's largest online real estate property portal. Rightmove is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Globrix was a UK real estate search engine that was launched in January 2008. It was launched as a joint venture with News International, publishers of The Sunday Times, The Sun, The Times, The News of the World and Thelondonpaper.
Perpetual is an Australian investment fund and trustee group in the S&P/ASX 200. The company provides investment products, financial advice, philanthropic and corporate services to individuals, families, financial advisers and organisations.
Houseful is a British residential property software, data, and insight company based in London, England, owned by Silver Lake Partners.
FindaProperty.com, prior to a 2012 merger with Zoopla, was a commercial sales and lettings listings website for the UK consumer residential housing market. It had offices in London and Brighton and listed approximately a million properties uploaded by estate agents for a monthly fee.
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Catcha Group is an international Internet group founded by entrepreneur Patrick Grove. The Group controls a number of publicly listed and private media, new media, online classifieds and e-commerce businesses, and is one of the largest investors in the digital sector in emerging markets, notably ASEAN. Catcha Group and its related entities have completed over 50 investments either directly or indirectly, as sole, majority or minority shareholders.
News Corporation, stylized as News Corp, is an American mass media and publishing company headquartered in Midtown Manhattan, New York City. The company was formed on June 28, 2013, following a spin-off of the media outlets of the original News Corporation as 21st Century Fox (21CF). Operating across digital real estate information, news media, book publishing, and cable television, News Corp's notable assets include Dow Jones & Company, which is the publisher of The Wall Street Journal; News UK, publisher of The Sun and The Times; News Corp Australia; and REA Group, operator of realestate.com.au, realtor.com, and book publisher HarperCollins.
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Domain Group is an Australian digital property portal and associated real-estate industry business. It is best known for its real-estate website domain.com.au, and also owns the brands commercialrealestate.com.au and allhomes.com.au. The company was a wholly-owned subsidiary of Fairfax Media from 1999 until November 2017, when Domain was listed on the Australian Securities Exchange as a public company, although Fairfax Media retained a 60% ownership of shares.
Makaan.com is an online real estate portal in India, launched in 2007. It has a rating system for brokers.
Purplebricks is a British online estate agent which operates in the UK. Founded in 2012 by Michael Bruce, Kenny Bruce and David Shepherd, it is backed by investors that include venture capital firm DN Capital as well as Neil Woodford, Paul Pindar, and Errol Damelin.
OnTheMarket.com is a United Kingdom property portal similar to Rightmove and Zoopla. In October 2023, it was announced that the firm would be acquired by CoStar Group for £99 million. On December 12, the Washington, D.C.-based property data company reported having completed the purchase of OnTheMarket plc.
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Cromwell Property Group is a commercial real estate investment and management company with operations in Australia, New Zealand and Europe. The Group is in the ASX 200 list. At December 2020, Cromwell had a market capitalisation of $A2.3 billion, a direct property investment portfolio in Australia valued at $A3 billion and total assets under management of $A11.6 billion across Australia, New Zealand and Europe.
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