Hemnet
👤 Founded by Sweden's broker industry (1998) (No solo founder: brokers built Hemnet as a shared portal, handing it every listing. That cold-start gift is the whole moat.)🌐 site
Sweden's broker industry built a shared listings site in 1998. It became a near-monopoly that now bills the sellers.
Will it work? · our read
Inelastic by design. The seller lists once and wants every buyer to see it — and 90% of Sweden's buyers are only on Hemnet. So Hemnet raises the price yearly and sellers keep paying.
01How the money moves
Broker uploads a home to Hemnet
→
Seller buys reach: base fee plus premium tiers
→
Hemnet books the fee; ARPL rises yearly
02The numbers
SEK 1,394.6MFiled2024 net sales · +39% YoY
FY2024source:
SEK 1,394.6M (about $126M)
About 90% of Sweden's home sales list here; operating margin about 45% (our math). FY24 report
About $126M net sales, up 39% YoY, at a 45% operating margin.
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See a full teardown, free → ImportYetiSourcesSources last checked 10 August 2026
Hemnet Group Q4 & FY2024 interim report — net sales SEK 1,394.6M, ARPL SEK 6,382, operating profit SEK 633.8M.About Hemnet — 40M+ visits/month, 84% prefer Hemnet, founded 1998 as an industry initiative.Online Marketplaces — circa 90% of Swedish property sales, net sales SEK 1,394.6M ($126M), operating profit $57M.General Atlantic — PE-led group acquires Hemnet from the broker industry.Hemnet 2024 Annual & Sustainability Report.
Revenue is FILED: Hemnet Group AB trades on Nasdaq Stockholm (HEM); the SEK 1,394.6M FY2024 net sales, ARPL SEK 6,382 and SEK 633.8M operating profit are quoted from its Q4 2024 interim report. That is Hemnet's own fee revenue, not property GMV. The about-90% listing share is Hemnet-reported and echoed by trade press (Online Marketplaces). There is no solo founder — Hemnet began as a 1998 broker-industry initiative, later passed to a General Atlantic-led group and IPO'd in 2021. The seller-pays model and premium tiers are from Hemnet's business description. USD conversions (about $126M, $577, $57M) are the source's own. We never score you.