Hipages tradie booking website seeks out IPO interest

Hipages tradie booking website seeks out IPO interest
Hipages tradie booking website seeks out IPO interest

The tradie booking website Hipages has been canvassing brokers and law firms in preparation for an initial public offering on the ASX.

HiPages vets the trades licenses and Australian Business Numbers of all tradespeople registered on its site.

HiPages ranks as the largest of three online trades and services sites operating in Australia.

Hipages, which counts News Corporation as a investor with 30 per cent, was last valued at $216 million following a reshuffle of its share register late last year. 

News bought into the website in 2016 for around $38 million.

The Australian Financial Review Street Talk column wrote co-founders David Vitek and Roby Sharon-Zipser had been in recent meetings to explore potential IPO options next year or a late 2018 listing.

Hipages has worked with investment bank UBS, which has assisted with prior funding rounds.
 
Its investors include Ellerston Capital and the venture capital firm Right Click Capital. 

Founded in 2004, Hipages charges member fees for tradespeople rather than relying on commissions from jobs delivered.

Recently Bunnings Warehouse, the Australia-based household hardware giant, started offering customers a fixed-price installation service through a strategic partnership with HiPages.

The deal will give Bunnings customers the option of adding a $275 fixed-price installation service — which includes all fittings and fixtures, removal and disposal of old toilets, and a five-year warranty — from HiPages when they purchase a toilet suite.

Customers will receive a unique voucher code at the time of purchase, which is used to book a local tradesperson on the HiPages website.

The installation service will be rolled out nationwide, following a trial in 15 Bunnings stores in New South Wales.

 

Tags: 
Tradesmen Bunnings

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