Effective from the 1st July the ownership of Zoodle transfers from the current joint venture between Realestate.co.nz Limited and Terralink to a 100% ownership by Terralink International. The previous shareholding structure of the company was 45% Terralink, 45% Realestate.co.nz and 10% Alistair Helm (CEO Realestate.co.nz).
Zoodle was launched in January 2009 to provide the consumer with an online property information website delivering property reports on all of the 1.8 million homes in NZ. During that time Zoodle has grown to become the most actively visited property information website in NZ, regularly receiving over 120,000 unique browsers per month who download over 4,000 property reports a month.
During the 3½ years of operation Zoodle has not only gained a significant audience and business in the sale of property reports, it also has made a significant impact on the key competitor in the market – QV. As shown in the chart below Zoodle surpassed QV in audience measured by Nielsen online as market share of real estate weekly browsers back at the end of 2010. Subsequently Zoodle has gone on to further reinforce its lead over QV now representing 5% of the total weekly browsers to the real estate category of website in NZ compared to QV with just over 3%.
The core data that powers Zoodle is Terralink sourced data as it relies totally on their property information database and their valuation model for online reports. The initial concept of the joint venture was to reflect the skills of Realestate.co.nz in online marketing matched to the rich data from Terralink. This relationship between Realestate.co.nz and Terralink is now very well established and this decision by the board of Realestate.co.nz to sell the shareholding to Terralink in no way detracts from this relationship between the two companies which is likely to continue to grow in the future as property data becomes more important to consumers and the real estate industry.
The realestate.co.nz website will still continue to link to Zoodle and content sharing will continue as each partner mutually benefits. The decision by the board of Realestate.co.nz to sell its shareholding is a reflection of the fact that Zoodle was not seen as needing to be owned to afford the website of realestate.co.nz the benefits of providing integrated property data. Terralink are well placed to integrate Zoodle more fully into their own operation which is solely based around property data. They currently provide a market leading solution of property data to real estate agents in Property Guru which delivers some component of its service using realestate.co.nz listing data.