PURPLEBRICKS – How do we bring a fast-growth business to market only 18 months after launch?
Purplebricks was preparing to list on London’s Alternative Investment Market (AIM) just 18 months after launch. Its executive directors had limited media exposure and no knowledge of the City. Our task was to establish the value of Purplebricks’ innovative business model, which was at the time loss-making, with investment audiences and commentators.
We developed a financial communications programme to amplify the Purplebricks’ brand in a short window before the Listing. This involved rapidly assessing and fine-tuning Purplebricks’ positioning versus online competitors and traditional agencies, and engaging with key media, sell-side analysts, and investment audiences to build a supportive backdrop for the Listing. Following the IPO, we continue to provide strategic advice to Purplebricks’ on reputation management and City engagement.
The IPO valued the Company at £240 million, with a valuation eventually exceeding £1 billion after expansion into Australia and the US. We have helped Purplebricks secure three fundraising rounds, two after the listing, raising a total of £175 million.
Less than four years since launching Purplebricks has achieved a valuation greater than the combined value of its three listed traditional rivals, and continues to receive wide-ranging supportive media comment for its disruptive business model and market leadership.