Further to the post which i published last month MyHome has been rescued and was purchased a few days ago by Shane Dale. It is believed he paid just over 1 million dollars for Myhome which he was involved in creating a few years ago.
Shane was the owner of SurroundPix which Myhome purchased a few years ago for amount believed to be around 7 million dollars. It appears Mr Dale has done quite well from the deal and now has a chance to put his stamp on the real estate portal sector.
Lets hope he has some fresh ideas for the website and some bold plans to turn Myhome into a major competitor of Domain and REA. I wish him all the best!
Last month we saw the collapse of MyHome the 4th largest real estate portal in Australia. Some may say this is an insignificant event as MyHome wasn’t the most easiest website to navigate but in actual fact it isn’t great for the real estate industry and its stakeholders including agents, private sellers and people who use the internet to search for property.
The loss of MyHome now means there are only three major portals left in Australia REA, Domain and Homehound. REA is the outright market leader, Domain is half as big as REA and Homehound is 10% the size of REA. This is not great for agents as it further strengthens REA’s position, it is bad for private sellers as they can’t list on REA and it isn’t good for proeprty searchers as it means they have to keep using REA to search for property while being bombarded with advertisements.
Read the rest of this entry
