Recently-launched Boomin has been valued at £100m just a few weeks after it launched as the company reveals a major shake-up for its top team.
The Neg has been told that a rumoured £25 million investment being finalised by co-founder Michael Bruce from his City pals is accurate, valuing the company at the jaw-dropping ‘post-money valuation’.
Former Purplebricks boss and Boomin co-founder Michael Bruce is to become its Group CEO after steering the launch as its chairman.
He is being replaced by former Virgin boss and corporate ‘big hitter’ Stephen Murphy.
Bruce also says the portal is in the process of hiring a managing director from within the industry to head up the portal side of the business, while preparations are being made to ask member agencies to vote for an estate agent representative to join the portal’s board.
But it’s the Virgin hire which has the most clout – Murphy (pictured) was its Group CEO for six years, taking over from Branson in 2005.
Since leaving his operational role at Virgin he has been a regular on the business conference circuit and also amassed an impressive collection of non-exec directorships.
“I have been really impressed by the DNA of the business and the ambition to deliver truly exceptional experiences for agents and everyone engaged in property,” says Murphy.
“I am excited to be working with the founders and the management team to realise the enormous potential that exists with market leading agents, truly innovative technology and a collective ambition to make a genuine difference. I will be an active advocate for all of these ambitions as Chairman.”