Domain.com.au and Domain Group: Fairfax's Real Estate Division
Domain Group is an Australian online real estate portal which includes domain.com.au, allhomes.com.au and commercialrealestate.com.au amongst a range of other real estate-related websites for agents, consumers and analysts. Domain.com.au was initially founded by Fairfax Media in 1999.
In 2015 it was suggested that Domain.com.au was “catching up” to its primary competitor, the News Corp-owned REA Group, having reached 10,000 agent subscribers. Then-chief executive, Antony Catalano, highlighted to investors that Domain had reached a market penetration of over 90%, having reached 60% only two years prior, and stated “I hope you can take out that the Domain Group is no longer a distant number two.” Following Mr. Catalano’s departure, Jason Pellegrino, Google Australia and New Zealand’s former managing director, became Domain’s CEO in 2018.
Domain began trading publicly in November of 2017 with Fairfax (now Nine Entertainment), retaining 60% ownership. At the time Domain accounted for $1 billion of Fairfax’s total $1.7 billion valuation. Domain Group currently operates with over 900 employees and has also expanded into the Buy Now, Pay Later sector with the launch of MarketNow.
According to Domain Group's 2022 Annual report the “ultimate parent of the Company is Nine Entertainment Co. Holdings Limited." The report also stated that Domain Group saw their total revenue grow from roughly $295 million to $358 million in 2022 while at the same time repaying their JobKeeper Grant.
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