Jun 12 2008
Website returned to owner, unused but in poor condition
PBL have returned MyHome.com.au to Shane Dale, purportedly netting him a $6.2m profit, after sinking over $20m into the venture but failing to gain any penetration into the Online Real Estate market.
Favourite quote from The Australian’s write up with the obligatory beat up on NineMSN and Tony Faure:
One source said Myhome had been “a major failure due to a spectacular lack of understanding of competitive strategy in the online real estate market”.
News (The Australian’s publisher) own a majority stake in RealEstate.com.au, the leading online real estate website.
