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Property website Zoopla valued at £919m in IPO

20 Jun 2014

houseVenture capital-backed property website Zoopla was valued at £919m in its IPO on the London Stock Exchange.

The IPO was priced at 220 pence per share and Zoopla, which is backed by Atlas Ventures and Octopus Investments, has since surged to 232 pence per share.

Zoopla had plans to float a 38.2 per cent stake at a price of between 220 pence and 250 pence per share.

Zoopla founder and CEO Alex Chesterman said, “Today’s announcement marks an important milestone for our business following a number of years of strong growth and having built a market-leading proposition.

“We have received a significant level of institutional investor support in our business which once again underlines the growth potential of Zoopla Property Group.”

Earlier this year Zoopla’s backer Octopus Investments hired former Google executive Debu Purkayastha as an entrepreneur-in-residence.

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