Regional News

Zoopla’s CEO makes £135 million, catches US private equity firm’s eye

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Zoopla's founder and CEO, Alex Chesterman has made an impressive £135 million from ZPG, grabbing the attention of US private equity firm, Silver Lake.

Silver Lake, which has investments in companies such as Alibaba, GoDaddy, and Tesla, agreed to buy ZPG in a £2.2 billion all-cash deal at the end of last week, with Chesterman netting around £60 million from the sale of the 12.5 million shares he has in the business.

He previously made £33.6 million when the group listed in 2014, and a further £40 million from selling shares between 2015 and 2017.

The deal has been backed by more than 31% of investors including ZPG’s largest investor DMGT, the parent company of the Daily Mail, which is in line for a £640 million payout from the sale of its 29.9% stake.

Chesterman, 48, is a serial entrepreneur who set up Zoopla in 2007. A year earlier he merged his online DVD rental business ScreenSelect with LoveFilm, which was then sold to Amazon in 2011 for £200 million.

As well as Zoopla, ZPG owns and operates uSwitch, Money, PrimeLocation, and Hometrack.

Chesterman is an active angel investor, having backed early-stage start-ups such as food company Graze and online discount sports retailer SportPursuit.

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