Spitogatos.gr acquires Tospitimou.gr – Cements Leadership Position in Greece
Published on 6th April 2015, 9:17
Spitogatos.gr, the leading real estate website in Greece, took another step forward in its mission of making Greek property search and real estate transactions more transparent and efficient by acquiring Tospitimou.gr, a leading, Greek only, real estate vertical.
Spitogatos.gr was founded in 2006 and was the first online Greek business to raise venture capital in 2009 from Oxygen Capital, a TANEO backed venture capital fund. In May 2014, Spitogatos.gr attracted investment from Real Web, which operates Immobiliare.it, the leading real estate website in Italy. This also constituted a successful exit for the venture capital fund and a new chapter in the Spitogatos story, following this transaction the Spitogatos team has also been operating Spiti24.gr, previously owned by Real Web.
Tospitimou.gr was founded in 2005 and was the first Greek real estate vertical website in the market. Despite turbulent times in Greece and lack of external investment, it operated very efficiently and managed not only to survive during the crisis but also to grow and add incremental value every year to its users, thus maintaining a leading position in the market. Tospitimou.gr is also a leading provider of software for real estate agent’s websites in Greece.
The three brands, Spitogatos, Spiti24 and the Tospitimou will collectively be a part of the Spitogatos Network, offering its over 3 million monthly users access to key information regarding homes and real estate for free, while providing advertising and software solutions in order to support real estate professionals expand their business. The Tospitimou team will join the Spitogatos team, and Dimitris Melachroinos of Spitogatos.gr will become CEO of the combined company.
“People love using Spitogatos to search for property in Greece, find key information and connect with the best real estate professionals. By joining Tospitimou’s talent, technology, database and customer base, we envision a tremendous opportunity to add value to a market that has been suffering for the last 6 years and make life easier for everybody along the real estate chain”, said Dimitris Melachroinos. “We now have an even bigger responsibility to improve people’s lives and drive things forward in Greece.”
“We are very excited to begin this new chapter and to become part of an outstanding team. We are ready to work even harder and further improve online real estate in Greece”, said Ioannis Baseas, one of the founders of Tospitimou.