Emoov founder Russell Quirk last night said that there could be a buyer for his embattled business.
Separately, a local property agent with Emoov has ‘blown the whistle’ to EYE on what it has been like to work for the organisation in recent weeks.
Quirk told investors last night on Crowdcube: “Whilst I am unable to go into detail at this early stage, I write to advise that we had a recent approach from a potential acquirer of the Emoov business.
“Consequently, I have engaged Arden Partners, the City broking house and M&A specialist, to court additional interest from other third parties in order to ensure the most competitive process. There are now several interested entities.
“Any final decision on a sale or merger will of course be taken by the Emoov board and then via the requisite shareholder consents as per the terms of our Articles of Association. Suffice to say that any outcome will of course be that which is in the best interests of all of us as shareholders.
“Unfortunately I am unable to enter into any other individual dialogue at this time but will provide further updates as and when able.”
Entirely separately, a local property agent with Emoov told EYE that they have been repeatedly told: “Everything’s fine, we’ve got loads of money.”
The agent said that the number of employees has been around 140, with 45 working in the field, but thought ten have left in recent days.
They told us: “As for concern about wages, we’ve never really been paid properly. We get the minimum wage and only get commission if we sign up over seven vendors in a given month.
“This is one of many goalposts that have been moved this year.
“I have a 60% conversion rate and still only get the minimum wage.
“Russell’s article the other week about Amazon not paying their staff enough was particularly insulting.”
The agent said: “For the last month the atmosphere has been awful.
“No one in management has enough backbone to admit that anything is wrong.”
The agent claimed: “All the staff I talk to have been feeling the same as me for the last month or so.
“In terms of getting listings, we’re very good at it.
“The local agents Emoov recruited are all incredibly passionate and dedicated to our vendors, 100% wanting to give them the absolute best service possible.
“However, once a property is listed things go rapidly downhill.
“The amount of complaints and issues we have to deal with on a daily basis is absolutely ludicrous.”
We have put all the claims to Emoov but Quirk declined to comment.
In October, according to Zoopla, Emoov had 385 listings, 341 which ended the month as for sale, and 44 under offer.