Purplebricks sets sights on NYC expansion after $177M investment Axel Springer’s funds gives it an 11.5 percent equity stake
Eric Eckardt (Credit: LinkedIn)
Purplebricks, a London-based discount brokerage, said Monday it received an $177 million equity investment from German media group Axel Springer SE to accelerate its expansion to New York.
The company, which launched in 2014, said it would earmark $71 million of the cash infusion to ramp up operations in the United States. Purplebricks now plans to launch in New York next month, instead of in July.
In a statement, Eric Eckardt, Purplebricks U.S. CEO, said the $71 million will go toward ex上海千花网