Developers Are Buying Into Tech Firms to Impress Institutional Investors

Neary 20 years ago Rightmove was a fledgling and little-used property portal that was barely there and struggling to persuade a sceptical public – and industry – that it was the future of house hunting.

Today it and the other main portals claim that 95% of house searches start with them, a breath-taking monopoly of consumer habits and one that’s enriched Rightmove shareholders beyond their wildest initial dreams. Last year alone it returned £140 million to them via its stock buy-back scheme...

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