Andreas Löwgren, sales director of Hemnet until January this year, moved to SBAB as business strategist. SBAB is the state-owned Swedish Bank, which acquired Booli, one of the few competitors of Hemnet, in December last year.

Löwgren worked at Hemnet for seven years, before leaving in January this year to become CEO of a start-up. Then he worked himself out of a job, by pushing for the start-up to be merged with its holding company. Ten months after leaving Hemnet, he will now become business strategist at SBAB, where he will probably be of great value to the subsidiary Booli Technologies.

Andreas Löwgren, now at SBAB (photo from his LinkedIn profile with thanks)

Andreas Löwgren, now at SBAB (photo from his LinkedIn profile with thanks)

Booli Technologies not only operates the real estate site, but also, where property searchers make contact with agents. Booli regards itself as an alternative to Hemnet.

Löwgren and the then-CEO of Hemnet Carl-Henrik Borg was behind the formidable success of Hemnet.

By the way, Carl-Henrik Borg, CEO of Hemnet from 2009 to 2014, is on the board of SBAB.

The sale of Hemnet is not yet official – neither the price tag. According to Swedish business newspaper DI, the price has now climbed to 2 billion SEK ($220 million U.S.). General Atlantic and Merro are still in the lead to buy Hemnet (as we reported here), but the infighting in the ranks of the real estate agents is not over yet.

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