Digital publisher invests £125m in Purplebricks

Michael bruce sold sign purplebricks

Online estate agency Purplebricks has announced a £125m investment from leading digital publisher Axel Springer to accelerate its US rollout and expand into new markets.

Springer is an international media company listed on the Frankfurt Stock Exchange with a €7bn market capitalisation and has bought into the company with a £100m new share subscription alongside £25m of ordinary shares, to give the firm an 11.5% holding in Purplebricks.

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