Purplebricks gives new COO a £1.1 million golden hello

Vic Darvey, who started at the company this week, has a 20-year track record in digital travel and price comparison businesses.

Purplebricks has given its new Chief Operating Officer a £1.1 million golden hello.

The company announced today that 45-year-old Vic Darvey, who joined the hybrid agency a few days ago, has been given options to buy 700,000 shares in Purplebricks which are valued at £1.1 million based on its current share price of £1.65p. Purplebricks has not made clear when he will be able to cash them in.

Darvey’s appointment was announced in the company’s latest trading update on 13th December. The announcement said that “Vic brings a proven record of technology delivery and leadership of cutting-edge data-led, customer-focused, commercial innovation”.

His track record is ideal for Purplebricks. He has experience of rapidly building up digital businesses, and said during an interview early on in his career that he dislikes ‘old school’ attitudes to business, and praised the rise of online estate agents within the travel industry.

Digital record

Before arriving at Purplebricks, Darvey has spent 20 years’ as a self-styled ‘digital leader’ specialising in consumer brands.

His most recent role has been a five-year stint at price comparison giant MoneySupermarket Group where he was Managing Director of its three key businesses MoneySuperMarket, TravelSupermarket and MoneySavingExpert, which Martin Lewis sold to the company for £87 million during Darvey’s time there.

Before that he had a senior job at travel company LastMinute.com, and started out his career building a tech firm that is the power behind the websites of many leading travel firms including Expedia, Opodo, Thomas Cook, TUI and Kuoni. LastMinute bought the company in 2004.

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