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An online rental portal has reported strong traffic growth while completing a successful round of capital raising.
Rent.com.au attracted a record 549,513 unique visitors to its website during October, with month-on-month traffic growth of more than 131,000 unique visitors.
Managing director Mark Woschnak said that at the time of listing on the ASX in June, the company aimed to attract more than 500,000 unique visitors within 12 months.
“To have reached that traffic target well ahead of schedule is a significant achievement for us, not just in our growing market share of renter audience, but also because we’re now driving three times the level of enquiries to our property agent and landlord customers compared to before our ASX listing,” he said.
“During October, we also delivered more than 15 million advertising impressions, a significant step toward rent.com.au becoming a more highly sought-after website for significant advertisers targeting our unique, predominantly 18 to 35-year-old, national audience.”
According to Mr Woschnak, the company will now focus on maintaining the regular visitor audience of greater than 500,000 unique visitors per month, while enhancing the user experience and product suite.
The company has also successfully completed its placement of 13,169,875 shares at an issue price of 28 cents per share, raising $3.69 million before costs.
Mr Woschnak said he was pleased with the demand for shares and said the company is now well placed to accelerate its marketing, product development and sales objectives.
“We will continue to focus on building the complete rental marketplace, pursuing the proven model of success demonstrated in other markets by leading sites such as Seek, REA and Carsales.”
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