Zoopla has continued to put to work the venture capital funding it received in 2009 and 2010 by purchasing VizziHome.
Four year-old business VizziHome provides market intelligence data to UK estate and letting agents and will reportedly improve the service currently being operated by Zoopla.
Zoopla Property Group currently provides a ‘similar’ market intelligence tool. While VizziHome will initially continue to be operated as a standalone product, it is anticipated that, over time, it will be integrated into Zoopla’s existing tools.
Alex Chesterman, founder and CEO of Zoopla, comments, ‘[Our] aim is to be the most effective market partner for our members by helping them to win more business, so this acquisition is a great fit for us and we look forward to further developing our market intelligence and data tools to help enhance our members businesses.’
Zoopla’s last venture capital fundraising came in December 2010 when the business raised £3.25 million in a round led by Atlas Ventures and Octopus Ventures. The Series C round took its total amount secured to £7.75 million.
Since taking on investment the property website has undergone an acquisition drive which has seen it purchase the Thinkproperty.com from the Guardian Media Group, the PropertyFinder Group portfolio of websites and property property website UpMyStreet.com.
Kevin Hollinrake, CEO of VizziHome, adds, ‘VizziHome and Zoopla’s MarketView have become must-use tools over the past few years for any agent serious about understanding their business performance and increasing their profits.
‘The idea of combining these two products and offering a single unrivalled market intelligence tool backed by the investment and innovation of Zoopla Property Group is a powerful one.’