Idealista
👤 Jesús Encinar (Harvard MBA; consulted Amazon and Yahoo in Silicon Valley, then brought US-style property portals home to Spain, 2000.)🌐 sitejesusencinar.com𝕏
A property portal where agencies pay monthly for listings and leads; buyers and private sellers use it free.
Will it work? · our read
Product won. In a two-portal market it won on listing quality and trust, not luck. But it now depends on pricing power over the agents who supply it — the one side that can revolt.
01How the money moves
Buyers browse and private sellers list, free
→
40,000+ agencies pay monthly to list and win leads
→
Agency subscriptions = about 75% of revenue
02The numbers
€159M ($172M)
Spain unit revenue, 2024
filed acct
+16%
group growth, 2024
AIM Group
€2.9B ($3.1B)
Cinven buyout (70%), 2024
PE Hub
Group revenue tops €300M ($325M) across Spain, Italy and Portugal; 2024 EBITDA about €84M ($91M). AIM Group (2024)
Group rev €300M+ ($325M) in 2024, +16% YoY. Spain arm €159M. From filed accounts.
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(demo: preview the full teardown)Sourcesupdated · daily
Online Marketplaces — Idealista 2024: €300M+ revenue, +16%AIM Group — 2024 revenue growth, EBITDA €84MEQT — Cinven buys Idealista, €2.9B (2024)idealista — founder Jesús Encinar profileCapital-Riesgo — why Idealista is worth 20x Fotocasa
Revenue is from filed statutory accounts reported by trade press (AIM Group, Online Marketplaces), not a first-party dashboard: €300M+ group and €159M Spain unit for 2024. The €2.9B is enterprise value in the 2024 Cinven buyout, not revenue. The 'about 20x more than Fotocasa' gap is a cited analyst framing, not an audited figure. Curation-as-wedge is documented; the weight of timing vs product is [our read]. We never score you.