The Emoov Movement no longer Moving?

Despite only recently securing investment via Crowdcube with a £1,000,000 raise and the merger of Emoov, Tepilo and Urban.co.uk, it appears that the Emoovement is no longer moving.

The online estate agency brand which was founded by Russell Quirk is now said to be leaving 100’s of consumers out of pocket (their service requires certain upfront payments in order to market and sell property). The Sun newspaper along with many other national news channels highlight that ‘the company had “run out of cash” after investors failed to deliver “several million pounds” promised when the company merged with competitors, Tepilo and Urban.co.uk in June‘.

Recent endeavours to find Emoov a buyer seem to have fallen flat despite its national brand recognition, it is stated that during its 9 years of trading there was never any profits. An email leaked out that was sent yesterday from Russell Quirk to the staff of Emoov declaring that the company was going in to administration ‘They say that entrepreneurs should never give up,‘.

Is this the end of online estate agency? Is this a failure at board level to deliver a profitable working business? Is it just a masterclass of using investors money to build a brand that simply eats money? Should Russell Quirk now take up an advisory role in ‘how to raise money on Crowdcube‘?

 

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Ticking time bomb that could be growing in your garden

Property industry body flags the ticking time bomb that could be growing in your garden rapidly during the summer months There have been widespread concerns about Japanese Knotweed over the years, but for those who may not be aware of the pesky plant, Propertymark highlights that now is the time to act, as warmer conditions…
Read More
Breaking News

Working-age Britons, poorest households

Working-age Britons, poorest households and the North East are suffering most from substandard housing, new data shows Never before seen analysis of the latest English Housing Survey has exposed the staggering inequalities in the monetary and social cost of living in poor-quality homes. In the North East, households are paying five times more than those…
Read More
Breaking News

Deposit Size Could Make or Break Your Budget in 2025

Mind the Deposit Gap: Why Your Mortgage Deposit Could Make or Break Your Budget in 2025 As UK homeowners and buyers face rising costs and tight affordability, specialist lender Hodge Bank warns that the size of your mortgage deposit could now play an even bigger role in long-term financial wellbeing. Hodge is urging homeowners and…
Read More
Breaking News

Government continues to withhold Renters’ Rights Bill court impact study

Government continues to withhold Renters’ Rights Bill court impact study, citing policy ‘safe space’ despite ‘unacceptable’ court delays Reapit appeals decision. The government has again declined to publish its Justice Impact Test for the Renters’ Rights Bill, this time in response to a Freedom of Information request, citing the need to preserve a “safe space”…
Read More
Breaking News

Urban Property Values Outpace Coastal & Countryside Markets

City Living Resurgence as Urban House Prices Outpace Coastal and Countryside Markets The latest research from eXp UK has found that city living is firmly back in favour, with the nation’s major cities seeing a stronger average rate of house price growth compared to coastal and countryside locations. The research by eXp UK analysed the…
Read More
how to present your property for sale
Breaking News

This one property size has grown by almost 20% in the last five years

The latest research from over-50s property specialists, Regency Living, reveals that the average size of park homes in England has increased by almost 20% over the past five years, reflecting a growing demand for park homes as primary residences, not just holiday getaways. Regency Living has examined the five-year change in the average footprint of…
Read More