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Zoopla.co.uk welcomes Doug Monro as it's new Chief Operating Officer

10th Jun 2008

Zoopla.co.uk, the UK's fastest growing property website, is pleased to announce the appointment of Doug Monro as Chief Operating Officer with immediate effect.

Most recently, Doug has been Managing Director of Gumtree.com, the UK's largest classified ads site, responsible for building the team and business through a phenomenal period of growth following the acquisition by eBay in 2005.

Over the past three years, Doug has been a driving force in leading Gumtree to its current position as one of the top 20 websites in the UK. Previously, Doug was Head of Strategy and Analysis at eBay UK and has worked at Bain & Company and Unilever and also as an entrepreneur.

As Chief Operating Officer, Doug will be responsible for overseeing the day-to-day operations at Zoopla.co.uk and helping to shape the future and growth of the business, which has already become the UK's leading property valuation website following its launch in January of this year.

Doug said:

"I am thrilled to be joining Zoopla.co.uk at such an exciting time in its development. The internet offers the opportunity to deliver transparency to the property market and empower users with information and Zoopla.co.uk is leading the way. I look forward to playing a key role in this transformation of the property sector and to extending the services provided by Zoopla"

Commenting on the appointment, Zoopla.co.uk founder and CEO, Alex Chesterman said:

"We are delighted to welcome Doug on board and he brings a wealth of online expertise with him. It's a very exciting time for Zoopla.co.uk with our user numbers growing rapidly and having recently been named as the 'UK's Most Promising Internet Company 2008'. Doug's arrival stands us in great stead to continue our growth and expand the features we offer in the online property market."

Doug has a BA in English from Cambridge and an MBA from the Kellogg School of Management where he was a Fulbright and Siebel scholar. He is also a CIMA-qualified accountant.

- Ends -

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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