View Media Group acquires a “critical” piece for the real estate ecosystem

In an effort to position itself as a major player in the nation’s real estate media and technology scene, View Media Group (VMG) has added a new entity to its growing ecosystem.

The group revealed that it had fully acquired proptech company The Today Business (TTB) for an undisclosed sum, adding the provider of digital marketing and technology solutions for the property development sector and the property market. residential real estate at the VMG real estate centre.

According to VMG Executive Chairman Antony Catalano, the transaction brought “not only the best Australian lead generation platform in the group, but a team of people who are the best in the business”.

Catalano said the acquisition was partly driven by the strong performance of TTB, which has delivered strong results for its clients since the proptech company was founded years ago.

“The technology within TTB is proven to deliver high volumes of quality leads for residential agents and developers with minimal wastage. They have successfully created a low friction solution allowing agents and providers to effectively connect with buyers where and when they are,” said Catalano.

With TTB now operating under the VMG banner, the group believes it is well on its way to positioning itself as a major player in Australia’s highly competitive and lucrative real estate media and technology sector.

“It’s a critical part of the real estate ecosystem we’re building at VMG because it builds relationships at both ends of the real estate sales transaction,” Catalano said.

Joining VMG puts the company on an “incredibly exciting path” for TTB Managing Director Simon Kent.

“Having worked with Antony for many years at Domain, and most recently as President of TTB, we fully agree with his vision for VMG and his approach is a perfect fit for our business and our growth plans,” did he declare.

The acquisition may also be a loophole moment for TTB, as the proptech company was already working closely with VMG’s brands and businesses even before the deal closed.

Currently, TTB already provides performance marketing support for the property portal, where VMG has a 72% majority stake. TTB also provides performance marketing services for media company ACM, which is jointly owned by Mr. Catalano and VMG’s Alex Waislitz.

In addition to this series of mergers between the two entities, TTB has entered into an exclusive agreement with Propic/Concierge as part of the Acquire AI solution. VMG is Propic’s largest shareholder.

TTB Managing Director Trent Casson felt the alignment with VMG offers an opportunity to take further steps after significantly expanding its footprint in three different states – namely Melbourne, Sydney and Brisbane – over the past four years. .

“Adoption of our proprietary digital marketing solutions has taken off dramatically,” he said.

He felt that the strategic enterprise would not only help grow the business, but that “the collective of associated companies within the group will generate added value and, above all, seamless end-to-end solutions for our customers and real estate buyers.

Casson also shared that the disruption caused by the pandemic has provided insight into the pain points they need to help resolve with TTB’s technology.

“The difficult market conditions of recent years [have] taught us that an agent’s digital acquisition strategy should be at the forefront of their thinking. It really sharpened our focus and that of our customers and partners,” he said.

He thinks being part of VMG came at an “opportune” time for TTB.

“Having access to the collective power of the group will accelerate our strategic plan and ensure that our customers benefit directly in a way that we believe makes us a much more attractive proposition to our customer base,” he said.

In August, VMG also announced an increase in investments from the Seven West Media group, which, combined with investments from MM. Catalano and Waislitz, brings cash and media available to VMG to over $100 million.

“Simon and I look forward to working with Antony, Alex Waislitz, Seven West Media and of course the other companies in the group, some of which we already work with,” concluded Casson.

With the majority stake in, a stake in utility hookup platform Beevo, a majority stake in Propic and the investment from Seven West Media, VMG said the group is now positioned to achieve over 90% of the Australian market. population each month.

“This is the first of many announcements VMG expects to make as we continue to grow our real estate ecosystem that will push hard in the $300 billion transactional real estate market,” Catalano said.

View Media Group acquires a “critical” piece for the real estate ecosystem

lawyers weekly logo

Last update: October 05, 2022

Posted: October 06, 2022

Source link

Comments are closed.