Rightmove

Rightmove plc is a UK-based company which runs rightmove.co.uk, the UK's largest online real estate property portal.[2] Rightmove is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Rightmove
TypePublic
LSE: RMV
FTSE 100 component
IndustryInternet & Real Estate
Founded2000
HeadquartersLondon, England, UK
Key people
Andrew Fisher (chairperson), Johan Svanstrom (CEO)
RevenueIncrease £332.6 million (2022)[1]
Increase £241.3 million (2022)[1]
Increase £195.7 million (2022)[1]
Websitewww.rightmove.co.uk

History

Rightmove was incorporated on 16 May 2000 and it launched its website, rightmove.co.uk, in July 2000. Rightmove's founding shareholders were Countrywide plc, Halifax, Royal & Sun Alliance and Connells.[3]

Rightmove was first listed on the London Stock Exchange on 15 March 2006 at which time it became Rightmove plc.[4]

In 2007 Rightmove bought 67% of Holiday Lettings Limited.[5] In May 2008, HBOS, one of the founding investors, sold its stake in Rightmove.[6] According to Forbes, Rightmove operates on a two-sided model which serves a vast “audience” for property listings on one side and 20,000 advertisers of available properties on the other side.[7]

In November 2019, the company announced the appointment of Andrew Fisher as its Chairman, succeeding Scott Forbes who was in the role for over 14 years.[8][9]

Operation

Rightmove makes money from listing estate agents on its website and offering additional advertising products to those agents. The ads are visible to users who search for the area chosen by the estate agent. Individuals selling property privately (i.e. directly without an agent) are prohibited from advertising on the site. Each month, Rightmove release a House Price Index, illustrating any changes in the asking prices of houses throughout England and Wales.[10]

References
  1. "Preliminary Results 2022" (PDF). Retrieved 3 March 2023.
  2. "Rightmove profits rise as more agents move their homes online – UK's largest property listings website boosts customer count and number of listings". The Financial Times. 23 February 2018. Retrieved 30 August 2018.
  3. "Rightmove shares crash as CEO to step down after 16 years". Yahoo News. 9 May 2022. Retrieved 15 February 2023.
  4. The Financial Times (10 March 2006). "Pricing of IPO values Company at £425m". Archived from the original on 1 September 2011. Retrieved 4 May 2009.
  5. "Rightmove acquires majority stake in holidaylettings.co.uk". Mortgage Strategy. 28 March 2007. Retrieved 15 February 2023.
  6. The Independent (17 May 2008). "HBOS sells stake in Rightmove". Independent.co.uk. Retrieved 17 May 2008.
  7. Gregersen, Hal. "Behind Rightmove's Extraordinary Growth". Forbes. Retrieved 12 October 2017.
  8. "Rightmove taps ex-Shazam boss Andrew Fisher as its new chairman". Reuters. 22 November 2019. Retrieved 18 May 2022.
  9. "Rightmove appoints former Shazam boss Andrew Fisher as new chairman". belfasttelegraph. ISSN 0307-1235. Retrieved 18 May 2022.
  10. Rightmove. "House Price Index". rightmove.co.uk. Retrieved 3 April 2015.

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