News Corp acquires 25 per cent stake in tradespeople classifieds website hipages
News Corp Australia has acquired a 25 per cent stake in hipages, a website for finding and hiring tradespeople, as the publisher looks to grow its property and home services category.
Launched in 2004, hipages employs over 200 people and raised $6m in May last year from Right Click Capital, Ellerston Capital and Australian Ethical Investment, raising a further $6m in June this year from existing investors along with Kestrel Capital.
Peter Tonagh, News Corp Australia CEO, said in a statement: “The investment is part of a wider plan to further develop and grow the property and home services category in Australia. hipages is a leader in this market and has consistently demonstrated innovation and strong management.
“We look forward to working with the hipages team to realise further benefits for both our businesses in the property and home services category.”
Hipages co-founders Robert Sharon-Zipser and David Vitek
News Corp Australia already owns real estate classifieds website realestate.com.au, careers website CareerOne and cars classified site carsGuide.
David Vitek, co-founder and CEO of hipages, said in a statement: “hipages has come a long way from a small garage in 2004, to employing 200 people today. While we’re very proud of the growth we’ve had so far, we know hipages is just getting started.
“We’re thrilled with the vote of confidence from News Corp Australia and look forward to working with our new strategic investors to continue to develop the platform, grow the hipages team, and accelerate marketing.”
Miranda Ward
Miranda Ward worked for Mumbrella from 2013 to 2017, eventually becoming deputy editor. Miranda joined Mumbrella in September 2013 from Sky News.
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I hope it’s more successful than the time they gave the kiss of death to MySpace, which up till their takeover was the coolest website on the planet.
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