Online agent Emoov is said to have put itself up for sale, amid rumours of a cash squeeze.
According to Sky News, Emoov has appointed a stockbroker, Arden Partners, to oversee an auction.
Foxtons is said to have held preliminary talks to acquire Emoov which only recently acquired Tepilo and Urban.
This evening, Emoov founder Russell Quirk told EYE that the rumours were “not accurate by any means”.
However, he declined to comment further.
He said: “I can’t comment to confirm or deny any such speculation.”
Comments (19)
Guess Blockbuster and Black cabs can beat Netflix and uber!
Service always triumphs over cost.
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
I can’t help myself …….. “Told you so!”
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
Its time to celebrate. Let’s do it. No sympathy for the investors who didn’t think twice that these online agencies are just bubbles. They don’t have anything tangible. End of the day, high street agents are there to stay. No matter what happens to the tech world. Happy Halloween..
The prop.com bubble is about to burst.
Foxtons…don’t do it.
Lemmings lining up at the cliff edge….. the Onliners or Investors? …….both!
The beginning of the end , or the end of the beginning ?
Purplebricks shares down today to 177p too
Good agents need to make a living and the current race to the bottom in fees led by the discount up front fee charging agents has not helped the industry but only made it worst. Without good agents on the ground who can offer great customer service as well as adding value to the sales process the only real losers are the customers/vendors who end up getting less value for their homes because of poor service or no service . The industry does need to change but online upfront fee agents are not the future .
Auction???? Having 1 or no interested parties does not constitute an auction. Who would buy a failing business whose market is shrinking and staff are leaving.
My guess, PB will use any of the Axel Springer money that is left (and not invested in an Irish footy club) and buy the Emoov stock etc. PB will then get to brag that they have 100% of the bodge it and scarper market.
Same will happen with Purplebricks.
The business model doesn’t work, never will do.
I almost feel sorry for the investors…almost!
Modest wager, Administrators in before the end of the year ?!
Tee hee.
Crowdfunding Opportunity Alert… Everyone stick a quid in… We buy it and we close it down… Best £1 you could ever invest if you ask me…
You do raise an interesting point Ric. What is a business like this actually worth?
– They don’t make money and in fact make a massive loss.
– Their brand doesn’t have any good will associated with it.
– There is no value in their stock because it’s all based on upfront charging.
– They don’t (as far as I’m aware) have anything particularly ground breaking in their tech offering.
So other than whatever is left of the Lettings acquisition what is there that holds any value?
Might be the very first sold board for Emoov that anyone has seen.
And then the sale will fall through.
Can’t… stop… laughing!
Ha ha
Bubbles are now bursting. What Mr Russell Quirk is going to do now?
twerking?
Have a nice one.
You couldn’t write it could you, hopefully all of the other crowdfunding investors will realise that a fool and their money are easily parted, anyway happy Xmas Russel
Move aside everyone.
The cat is out of the bag and the online revolution is unravelling.
Share prices falling, no profits, staff turnover rising amid falling earnings and now closures, mergers and takeovers.
It just goes to show that selling houses is neither something you can do easily or on the cheap!