Ringier AG and Axel Springer have become strategic investors in emerging markets real estate vertical Lamudi. The companies will share a seat on the advisory board, which will be managed by Ringier, for now. The financial details of the agreement were not disclosed.
British hybrid real estate agency PurpleBricks released its financials for the first half (H1) of 2018, which showed 20 percent year-on-year revenue growth. Its U.K. revenue rose 118 percent versus H1 2017, reaching £39.9 million ($51 million U.S.).
German media group Axel Springer AG has published its Q3 results, showing that its Classifieds Media segment increased revenues by 19.4 percent to €890.2 million ($1.9 billion U.S.) during the first three quarters of 2018.
Ralph Büchi, current COO and deputy CEO of Swiss Ringier AG and CEO of Ringier Axel Springer Schweiz AG, is to be nominated to the board of Axel Springer, and put forward for the position of chairman at the company's next Annual General Meeting scheduled to take place in April 2019.
British hybrid real estate agency PurpleBricks.co.uk has expanded into its first European territory: Germany. The company formed a joint venture with investor Axel Springer to acquire a 25.9 percent stake in German online agent HomeDay.de.
Netflix named Mathias Doepfner, CEO of German media giant Axel Springer, to its board last week as it pursues growth abroad.
The British Advertising Standards Agency (ASA) handed an unexpected endorsement to real estate portal OnTheMarket.com by censuring hybrid agent PurpleBricks.co.uk, which advertises on Rightmove.co.uk and Zoopla.co.uk but not OnTheMarket, for claiming to advertise on "all major portals".
A German startup for furnished apartment rentals for business travelers announced today it raised €12 million in a funding round to support product and geographic expansion.
Axel Springer-owned Meinestadt.de, a horizontal site that’s heavy on jobs, has introduced an Alexa skill for job search.
German media giant Axel Springer released H1 figures today, showing impressive growth in jobs and real estate classifieds during a half year of significant investments.