Rightmove

Rightmove plc is a UK-based company that runs rightmove.co.uk, the UK's largest online real estate portal and property website.[2] It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Rightmove plc
Public
Traded asLSE: RMV
IndustryInternet & Real Estate
Founded2000
HeadquartersLondon, England, UK
Key people
  • Andrew Fisher (chair­person) 
  • Peter Brooks-Johnson (CEO) 
Revenue£289.3 million (2019)[1]
£213.7 million (2019)[1]
£173.1 million (2019)[1]
Websitewww.rightmove.co.uk

History

The company was created in 2000 as a joint venture between four of the UK's largest property agents: Halifax, Countrywide plc, Royal & Sun Alliance, & Connells under the name Rightmove.co.uk Limited.[3] It was first listed on the London Stock Exchange on 15 March 2006 at which time it became Rightmove plc.[4] In 2007 it bought 67% of Holiday Lettings Limited.[3] In May 2008, HBOS, one of the founding investors, sold its stake in Rightmove.[5] According to Forbes, Rightmove operates on a two-sided model which serves a vast “audience” for property listings on one side and 20,000 advertisers of available properties on the other side.[6]

Operation

Rightmove makes money from listing estate agents on its website and offering additional advertising products to those agents. The ads are visible to users who search for the area chosen by the estate agent. Individuals selling property privately (i.e. directly without an agent) are prohibited from advertising on the site. Each month, Rightmove release a House Price Index, illustrating any changes in the asking prices of houses throughout England and Wales.[7]

gollark: I was just about to announce phase 2147483647.
gollark: I can't believe LyricTech™ sometimes. Seriously, I had to offload belief to one of the hypercomputing clusters.
gollark: ...
gollark: Do you at least have access to one?
gollark: If you're not an ideal inference process, that certainly isn't *my* fault.

See also

References
  1. "Preliminary Results 2019" (PDF). Retrieved 28 February 2020.
  2. "Rightmove profits rise as more agents move their homes online – UK's largest property listings website boosts customer count and number of listings". The Financial Times. 23 February 2018. Retrieved 30 August 2018.
  3. Rightmove: History
  4. The Financial Times (10 March 2006). "Pricing of IPO values Company at £425m". Archived from the original on 1 September 2011. Retrieved 4 May 2009.
  5. The Independent (17 May 2008). "HBOS sells stake in Rightmove". Retrieved 17 May 2008.
  6. Gregersen, Hal. "Behind Rightmove's Extraordinary Growth". Forbes. Retrieved 12 October 2017.
  7. Rightmove. "House Price Index". rightmove.co.uk. Retrieved 3 April 2015.

Official website

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