London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Purplebricks founder Bruce weighs moving back into online estate agent

Purplebricks founder Bruce weighs moving back into online estate agent

Michael Bruce, who founded Purplebricks over a decade ago, is contemplating making an offer for the troubled London-listed online estate agent.

The founder of Purplebricks is weighing a move to regain control of the online estate agent less than two weeks after its board hoisted the 'for sale' sign.

Sky News has learnt that Michael Bruce is considering making an offer for Purplebricks, and is lining up prospective advisers to work with him.

The emergence of Mr Bruce's interest comes nearly four years after he quit as the company's chief executive.

Alongside brother Kenny, he founded Purplebricks just over a decade, shunning physical estate agent sites and promoting a fixed-fee online model.

The company has seen its valuation slump, however, by over 50% in the last year, and it now has a market value of just £23m.

Mr Bruce now presides over the intellectual property assets of Boomin, a property portal he founded after his exit from Purplebricks.

Boomin was forced to call in liquidators last year after it was unable to secure new funding.

Michael Bruce founded Purplebricks with his brother Kenny, who remains with the company.


Mr Bruce injected significant sums of his own money into Boomin to keep it operating.

"Whilst we had a plan, support from a number of existing shareholders and a solution with a new investor the progressively worsening economic situation, combined with increasing uncertainty in the housing market has resulted in us being unable to get the necessary funding round over the line in time to enable us to continue," he said at the time.

One property industry source said there was likely to be industrial logic in combining the Boomin technology with that of Purplebricks.

The listed company said last month that it was open to offers after a series of profit warnings.

Mr Bruce could not be reached for comment on Wednesday.

Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×