Rightmove Acquires The Outside View
London based predictive analytics company The Outside View has been acquired by the online real estate portal, Rightmove.
Founded in 2013 by Rob Symes and Chris Bracegirdle, the company applied machine learning to the estate agency industry, developing an algorithm to predict which houses will sell in the next 180 days.
The strategic acquisition will see further product development through exploiting Rightmove’s vast data resources.
“The Outside View have developed an algorithm that identifies the most likely potential sellers in a local area enabling agents to more accurately identify and market to them. The founding shareholders will be remaining with the business with plans to launch an enhanced version of this product using Rightmove’s unique insight and dataset, which will work in tandem with the popular Local Valuation Alert product” said Rightmove in their statement commenting on the purchase.
The deal was an all-cash transaction and represented a positive return for shareholders including Peter Cowley, Angel of the Year 2014-15 and Martlet, the corporate angel investment arm of Marshall Group of Cambridge.