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The new comments come after news broke earlier this week about additional funding pumped into View Media Group (VMG).
Group executive chairman Anthony Catalano confirmed ANZ bank has invested $50 million in VMG, which presently owns 72 per cent of realestateview.com.au (REV), with intentions of establishing a strategic alliance.
ANZ follows Seven West Media as a major investor in the group.
Mr Catalano explained that the move provides REV with the opportunity for significant audience reach, as well as the financial measures to scale its operations to become a major industry player.
He explained that receiving “financial backing from one of Australia’s top 10 largest companies speaks volumes for the work the team has done to build a major new player in the real estate medium and technology sector.”
Toby Balazs, chief executive officer at REV, detailed his brand’s “huge ambitions within the property portal space” as well as desires “to support property seekers at every stage of the property journey.”
“The investment from ANZ will help us fast track our product development and growth ambitions to provide property seekers with all the information they need to make informed decisions, whilst also connecting with them to support services throughout each stage.”
He added REV will not just provide consumers with the chance to buy, sell, or rent a property but also “find a mortgage, organise conveyancing or insurance, book movers, and connect with other trade services.”
“We understand property seeker needs and will create meaningful relationships, ensuring REV is core to their property journey,” he said.
Adding, “we look forward to working with ANZ to bring their leading home loan and financial services offering to life to provide even more value to our customers.”
Moreover, he explained that REV will move to re-invigorate its brand and market positioning, boost its sales team across the country, and deliver a new product strategy while working with VMG’s businesses to provide “numerous opportunities for our agent partners.
Mr Balazs said REV will look to create a “property ecosystem.”
“Not only will the ANZ investment assist us in uplifting the REV brand, [it will also] allow us to strategically create offerings and opportunities for our shared customer base. We look forward to taking this to market soon,” he concluded.
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