View Media Group (VMG) has announced that ANZ Group Holdings Ltd (ANZ) has invested $50 million into VMG.
This comes less than six months after VMG accepted a significant investment from Seven West Media (SWM).
The investment by ANZ, when combined with the investment from SWM and Antony Catalano and Alex Waislitz’s regional publishing business ACM, provides VMG with the audience reach and financial resources to scale its operations and target opportunities in the annual $300 billion real estate transactions market in Australia.
In addition to the $50 million cash investment, ANZ and VMG have agreed to pursue the formation of a strategic alliance in financial services, including further investment from both parties to target the mortgage market and other consumer finance products.
Catalano, VMG executive chairman, said: “This is a clear endorsement of the VMG business and the strategy we have set ourselves to disrupt the real estate transactional market.
“To receive financial backing from one of Australia’s largest companies speaks volumes for the work the team has done to build a major new player in the real estate media and technology sector.”
“ANZ has demonstrated that it is a forward-thinking bank and has a clear plan to invest in emerging and disruptive businesses: I’m personally very excited to have their backing and can’t wait to deliver on our plans, not only to generate shareholder value for them but operationally, a steady stream of financial services customers from across the VMG property ecosystem.”
Anthony Catalano
Alex Waislitz, ACM co-owner and executive chairman of the Thorney Investment Group, said: “we are delighted to welcome ANZ as a significant shareholder in VMG and I am grateful for the confidence ANZ CEO, Shayne Elliott and his team has shown in this new venture.
“With ANZ’s involvement adding to the already active participation of Seven West Media, we are now well on the way to creating Australia’s most exciting real estate prop-tech business,” Waislitz added.
Catalano said: “ANZ will take a board seat as part of the transaction, with the funds to be used for investment in scaling up the business, product development and future growth opportunities. 2022 was a big year for us as we established VMG and made a couple of exciting acquisitions, but 2023 is when we plan to make some serious moves.
“When you combine the investments from ANZ, Seven West Media and ACM, the acquisitions of The Today Business and AD Group, along with the existing assets including realestateview.com.au, we are pulling together all the elements we need to make a serious impact in the real estate and financial services categories.”
“The businesses we are bringing together at VMG will build the digital real estate superstore of the future where you can carry out all of your property related transactions seamlessly on one site. You’ll be able to buy, sell or rent, but in addition you will be able to get a mortgage, insure the home and contents, connect and disconnect utilities and book trade services.
“Through realestateview.com.au we’ll guide consumers through the whole property life cycle journey and connect with them at every touchpoint.”
See also: View Media Group launches and confirms investment from Seven West Media