Yopa founding director steps down weeks after job losses at online agency

One of the founding directors of online agency Yopa has stepped down.

Andrew Barclay’s appointment has been terminated, but he remains an active shareholder.

He was appointed on July 8, 2014, along with his cousin Alistair Barclay. Both are members of the family who own the Daily Telegraph.

A Yopa spokesperson said yesterday: “As Andrew Barclay is no longer involved in day to day operations for Yopa, he will no longer be on the board of directors and we have taken the routine administrative step to update our Companies House filing.

“Both Andrew and Alistair Barclay continue to be shareholders and are actively supporting the company in this role.”

Yopa’s backers include DMGT, the owners of the Daily Mail, plus Savills and LSL, which wrote down its investment of £20m to £12.8m in its accounts for last year. Savills’ stake is not known.

Yopa last month confirmed a reduction in headcount, including the departure of its national sales director, as the result of a review leading to some restructuring.

‘Business as usual’ says Yopa boss after 16 departures including sales director

Homesearch EOS
x

Email the story to a friend



10 Comments

  1. smile please

    Tick tock, not long now.

    Harder to raise money, pitiful market share, no chance of turning a profit.

     

    Report
    1. Bless You

      A typical story of who the founders really are. The normal spin in the uk is they are students who were unhappy about something…in america they always start off in a garage ( even though theyre garage belongs to a hedge fund manager.

       

      The whole rags to riches story in the West is a complete scam.

       

      Report
      1. Bless You

        If the govt stopped this investment punting where fake companies are allowed to destroy industries , and found a way to only allow organic funding ( where the business needs to be making money on a small scale first)  , all these fake companies would be gone in a second. 

        Report
  2. haveathink

    Think of all the money that could have been invested into traditional agency, improving service (with prop tech elements) and standards, more jobs (sustainable ones) and better return for investors.

    Report
    1. Property Pundit

      Yes, but would there have been the huge disruption to normal agency we’ve witnessed. Oh wait, that never happened did it?

      Report
      1. Woodentop

        Not according to “The Prophet”, YOPA and PB were going to close down the high street.

         

        All bow, as they bow out.

        Report
      2. Bless You

        Well,, i would say the cost to the industry in fee discounts runs into billions over the last few years. People have worked it out now though.. we need to keep pushing the fact that they have no motivation to achieve the best price becuase you PAYANYWAY> 
        Rightmove.. you are rats for allowing them on your platform.  

        Report
  3. Ostrich17

    They may have temporarily reduced the cash burn rate (like PB), by reducing TV advertising, but they will be running on empty now.
     
    Will the investors throw more cash into the hat?
     
    Next up – an article about House Simple.

    Report
  4. s71

    As a wise-man  said, do not forget to click on their webpage (AD) for both Yopa & PB as the poor people in Google can earn some money for every click.

    Report
  5. jeremy1960

    I’ve just driven past a yopa sold board, first I’ve ever seen! Thinking of going back to nick it to flog on Ebay in a few years time as I’m certain they are very rare !

    Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.