How it started
History
In 2013, estate agents including Knight Frank, Savills, Strutt & Parker, Chestertons, Douglas & Gordon and Glentree Estates founded Agents' Mutual Ltd. The company launched its portal OnTheMarket.com in January 2015.
OnTheMarket members signed up to a 'one other portal' rule as a measure they saw as necessary for the portal to enter the UK market, which was overwhelmingly dominated by two players.
On 5 July 2017 the Competition Appeal Tribunal ruled OnTheMarket.com's one other portal rule - which stipulates estate agent members can list on a maximum of one other competing portal - is not anti-competitive. This judgement was supported in January 2019 by the Court of Appeal.
In September 2017, Members of Agents’ Mutual voted 89% in favour of demutualisation of the company to introduce a new parent company – OnTheMarket plc – in preparation for the admission to the AIM market of the London Stock Exchange.
On 9 February 2018 OnTheMarket plc was admitted to the AIM market of the London Stock Exchange.
From Wikipedia’s article on OnTheMarket, shared under CC BY-SA 4.0.2