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HIPAGES RECIEVES BOOST IN CONFIDENCE FROM NEWSCORP INVESTMENT

09-12-2015
by 
in 

hipages, Australia’s biggest website for finding and hiring tradespeople, announced yesterday that News Corp Australia has acquired a 25 per cent stake in the company, which is the leading on-demand marketplace for hiring tradies in Australia, including plumbers, electricians, painters and builders.


The funding from this aquisition is set to be a boon to the company, allowing them to accelerate growth, invest in product development, and create greater brand awareness among customers and trade businesses.


David Vitek, co-founder and Chief Executive Officer of hipages said that “hipages has come a long way from a small garage in 2004, to employing 200 people today. While we’re very proud of the growth we’ve had so far, we know hipages is just getting started.


“People love having a faster, better way to find the best tradie for any job they need done. But the real competition is that too many Australians still aren’t aware that there’s a better way to do this."


hipages has been ambitious in its previous growth. They have previously raised $6 million in May 2014 from Right Click Capital, Ellerston Capital, and Australian Ethical Investment, and subsequently a further $6 million in June 2015 from existing investors, along with Kestrel Capital.


Since its launch in 2004, the company has experienced significant growth year on year, directly employs 200 people and helps over 65,000 verified tradespeople find work and get access to $1.35 billion worth of jobs generated annually.


Peter Tonagh, Chief Executive Officer of News Corp Australia said:
“The investment is part of a wider plan to further develop and grow the property and home services category in Australia. hipages is a leader in this market and has consistently demonstrated innovation and strong management.


“We look forward to working with the hipages team to realise further benefits for both our businesses in the property and home services category.”
 

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