Emoov boss Russell Quirk is to be the speaker at a confidential, and highly influential, City lunch next week organised by analysts at the bank JP Morgan.
He is due to speak on the housing market, trends in the industry, the influence of the internet and how it has affected estate agency, and on specific new start-ups.
Quirk’s views are described as likely to be ‘key’ to analysts’ verdicts on the likes of Purplebricks and Rightmove.
Comments (9)
Quirk will no doubt give some interesting insider knowledge that will benefit all participants at the lunch.
At the same time, all of these listing estate agencies are constantly attempting to raise money to keep the ship floating. With a number of influential individuals there he will most probably be looking to impress in order to get the next stage of investment.
By the way, I am lead to understand that Quirk now only owns 5% shares after the merger. The pot continues to be watered down.
Richard Desmond & his company Northern & Shell Ventures Ltd are both noted as having significant control of Emoov Ltd so you are probably right about him having only 5% of the shares.
According to the most recent annual accounts filed in April 2018 the company made a trading loss of £10m.
The “going concern” statement concluded that significant additional funding was required to meet cashflow requirements but that prospective equity funding likely to complete within 3 months (plus onging discussions with other investors) meant the Company would have sufficient funds to meet its ongoing commitments ie without it they could go bust .
https://beta.companieshouse.gov.uk/company/07118826/filing-history
“Emoov boss Russell Quirk is to be the speaker at a confidential…….”
The first and obvious rule of confidential is not to go boasting to the trade press. This is embarrassing for all concerned.
Oscar Wilde said it best:
“The man is but a very honest knave. Full of fine phrases for life’s merchandise…a windy brawler in a world of words. I have never met so eloquent a fool.”
…he also said. Madam do not flatter yourself, my manhood is not sticking out, it is hanging out!
Can anyone believe ‘City Analysts’ are going to get an unbiased and impartial overview from this guy?
Stock market experts and investors are nothing more than gamblers?
Dot com all over again, they never learn?
It would seem these “City Investors” are a bit on the dim side and easily lead. I am sure once Russell tells them that the call centre brigade will have 50% market share in a years time they will be clambering to give him their rubles.
Anything to prop up share prices.
Russell has already signalled an attack on Purplebricks business model and service so will be looking to switch their investors money to his new group. The hybrid model itself is fine, it’s the way it markets and conducts itself in general that has been the train wreck.