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Zoopla.co.uk named 'UK's Most Promising Internet Company 2008'

6th May 2008

Zoopla.co.uk, the UK's fastest growing property website, is celebrating after being crowned the 'UK's Most Promising Internet Company 2008' by renowned networking group First Tuesday at the Internet World Exhibition held at Earls Court.

Competition for the award was strong with over 150 internet businesses being nominated, but Zoopla.co.uk was named the one to watch after presenting to a judging panel that included influential names such as James Gray, Founder of Getmein.com, Ien Cheng, Managing Editor and Publisher of FT.com and Keith Willey, Executive Director of London Business School.

The award was presented by First Tuesday Chief Executive Christer Holloman and was accepted on behalf of the company by Zoopla.co.uk CEO and Founder Alex Chesterman.

Zoopla.co.uk is a revolutionary property data resource and community website, providing free information and tools to help users make better-informed property decisions and give them an advantage in the UK residential property market.

Zoopla.co.uk CEO Alex Chesterman commented:

"We are delighted to have been given this award following our launch earlier this year and the incredibly positive reaction we are receiving from our users. It's fantastic to receive such influential recognition from the industry and this award reflects the effort shown by our team and how excited we are about the opportunities that lie ahead for us."

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For further information, please contact Tim Vooght at pr@zoopla.co.uk or on 020 3872 5615.

What is Zoopla?

Zoopla is a revolutionary online publishing service and community website providing information and tools to give users an advantage in the UK residential property market. Our aim is to create a transparent marketplace and we believe that information should be free and easily accessible to everyone.

How did it start? In early 2007, following the success of bringing DVD rental to the internet with LOVEFiLM.com, Zoopla founders Alex Chesterman and Simon Kain realised that the internet had yet to deliver meaningful change to the UK property market. It became clear that consumers lacked essential tools and information to help them understand home values, view similar properties, learn about past transactions...

...and then we thought:

  • Why not offer users a tool to get access to FREE, instant value estimates on their homes or anyone else's?
  • Why not let buyers make offers on ANY home, instead of just the 4 per cent of homes currently on the market 'for sale'?
  • Why not let owners find out if there is any market interest in their homes without having to list them 'for sale'?
  • Why not let agents and sellers market their 'for sale' listings FREE by providing them with easy-to-use tools?
  • Why not let anyone ask/answer questions and share their knowledge about any homes or neighbourhoods?
  • Why not put current value estimates, sold prices, homes for sale and local information all together in one place?

So, we have started by providing FREE value estimates and sold prices on homes, allowing sellers and agents to list homes for sale FREE, and letting all users edit information and upload photos. We have also launched some unique features, like TemptMe™ and AskMe™, which allow users to gain an insight into the market and discover information they won't find anywhere else.

By making TemptMe™ offers, buyers can try to entice owners to consider selling. Owners also benefit from this unique feature by being able to see what level of interest there is on their home without actually having to list it for sale.

The AskMe™ community feature allows anyone to find out more about any home or neighbourhood that they are interested in by posting questions for those in the know to answer.

Zoopla value estimates are calculated using a proprietary algorithm (secret formula) that we have developed by analysing millions of data points relating to property sales and home characteristics throughout the UK. The algorithm works by comparing relationships between home prices, economic trends and property characteristics in given geographic areas. Our estimates are constantly refined by our team of analysts, using the most recent data available and a variety of statistical methodologies, in order to provide the most current information on any home.

Zoopla Limited is a privately held company, backed by leading international venture capital firm Atlas Venture.

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