‘We want to help the next Zoopla’ says property entrepreneur in new venture

| Rosalind Renshaw

The business partner of former Dragon James Caan has launched a new venture.

It aims to find and accelerate a new high-tech company with the potential of Zoopla.

Property entrepreneur Faisal Butt’s business, called Property Innovation Labs, or Pi Labs, is backed by property firm Cushman & Wakefield and by Butt’s firm Spire Ventures.

Spire Ventures was formerly called Hamilton Bradshaw Real Estate and invested in online agent eMoov, as well as another new agency business, Ivy Gate, plus other enterprises.

Butt told Eye: “I am still chairman of eMoov and a board director of Ivy Gate and an investor in both. James and I remain as investors in eMoov and continue to invest together via Spire Ventures.

“Pi Labs is my latest venture, the platform I am leveraging to back more innovation in the property sector.”

He added: “Through Pi Labs, we can empower prop-tech start-ups requiring space, access to capital and support, and ultimately help spawn the next wave of tech company success stories.

“We see Pi Labs as the platform that will create the next Zoopla, the next AirBnB and the next Nest.”

Pi Labs will give start-ups access to investment, mentoring and business space in Second Home, Shoreditch, London.

Innovative property start-ups will be able to join the programme from this month. Pi Labs plans to invest in 30 start-ups over the next two years.

The co-founder of Pi Labs is Umesh Kumar.

Through its partnership with Pi Labs, Cushman & Wakefield’s technical team, led by Juliette Morgan, will relocate to Second Home and become an integral part of the accelerator programme.

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36 Comments

  1. Jonnie
    October 8, 2014 at 07:15

    I've thought about this for literally seconds and he should write a cheque out to easyproperty, it's going to be massive you know – Jonnie

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  2. dave_d
    October 8, 2014 at 07:40

    He clearly hasn't done his homework if he thinks he's going to create the next Zoopla…

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  3. NewsBoy
    October 8, 2014 at 08:12

    Bad move! Hopefully we will soon follow in the footsteps of USA (We are usually about 4 years behind on Real estate issues) and have just one Portal in a couple of years. USA manage to have just one – Realtor.com which is owned and run by agents for agents. No nasty profiteering but third parties and not a single sale by owner or hopeless internet agents.

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    1. realpundit
      October 8, 2014 at 12:13

      Why don't you do a Google search on "Zillow" and then stop spreading utter **** that isn't true.

      Realtor.com was 'given away' to Move, which has just been bought by News Corp. REA Group, which squeezes agents in Australia ala Rightmove here in the UK, will have a stake in Realtor.com.

      Zillow is by far the biggest and most powerful portal in the US, especially after acquiring the number 2 portal Trulia.

      As an agent, you are a third party… is your profiteering nasty? Or are you somehow more kosher?

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  4. PeeBee
    October 8, 2014 at 08:37

    Awwww… bless! question to Paul H – NOW do you see why I cringe every time you use that "e"-word? Do you REALLY want to be lumped in the same pile as the likes of Mr Butt, etc…?

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    1. Paul H
      October 8, 2014 at 08:49

      Morning PeeBee, what "E" word are you referring to? Although I think I am going to end up agreeing with you!

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      1. dave_d
        October 8, 2014 at 09:21

        Dont you mean e-greeing with you? Haha

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        1. PeeBee
          October 8, 2014 at 11:45

          Nice one, dave_d! ;o)

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      2. Eric Walker
        October 8, 2014 at 10:08

        Eric? I wouldn't blame you.

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        1. PeeBee
          October 8, 2014 at 11:29

          Not at all, Mr Walker – remember your name currently has pride of place on my CV… ;o)

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      3. PeeBee
        October 8, 2014 at 11:28

        You know what "e"-word fine well, Paul H – don't even TRY to make me use it (bares teeth in false show of rage at the very thought of it… ;o) )! For clarity, it contains 12 letters, 5 of which are vowels, is of French origin and the direct translation is 'egotistical prat', according to the PeeBee Dictionary… ;o)

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        1. Paul H
          October 8, 2014 at 12:39

          Ahhhhh….I won't use the 'E' word if you don't PeeBee mate!!

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          1. PeeBee
            October 8, 2014 at 13:03

            Ahem… it's usually YOU that does… ;o)

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        2. easy Chris
          October 8, 2014 at 15:24

          @PeeBee self awareness is a key step on the path to enlightenment,though I think calling yourself egotistical is a tad harsh….on second thoughts…..

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          1. PeeBee
            October 8, 2014 at 16:03

            Hmmm… let's have a think about that one, shall we, easy Chris. I AM the one here posting anonymously. I AM the one who is not stating that he is going to disrupt the UK property world and kill off the dinosaurs. I am but a minute tooth on a tiny cog located within a mahoosive machine. I AM NOBODY – and I know it. Sorry – what kind of egotistical person is that?

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          2. PeeBee
            October 8, 2014 at 16:06

            …however I take it that YOUR ego is so bruised, battered and otherwise bu99ered-up that you won't be stopping around long enough YET AGAIN to answer the rake of questions that have been aimed at you by several posters over the past few days…

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  5. CP
    October 8, 2014 at 09:25

    NewsBoy – so ALL internet agents are in your word "hopeless" and presumably you believe ALL agents who are on the internet and the high street are brilliant? A crass statement if you believe anywhere close to that is true.

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    1. Jonnie
      October 8, 2014 at 09:33

      Yes, I think he does CP and I think his view on hopelessness is based on the US…………..although naturally he's his own man and can speak for himself. – Jonnie

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  6. wilko
    October 8, 2014 at 10:19

    I've got to hold my hands up and say I don't really understand this venture, having read the article. If they can't get a press release that an experienced agent can understand then how are they going to get people to buy into the idea…..or am I just being thick on this one?

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  7. Robert May
    October 8, 2014 at 10:29

    I am not so sure that the Techies need Pi quite as much as Pi needs the Techies.
    Developing and delivering great and inovative Tech is fairly easy, the hard bit is not something cured by cash investment. One thing that was always obvious about Dragons Den was that is was the domain knowledge, experience and contacts that were more influential over the success of a product rather than the cash.

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    1. realpundit
      October 8, 2014 at 12:14

      Here here, thanks Robert May for exhibiting the only intelligent comment in this thread.

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      1. wilko
        October 8, 2014 at 12:41

        Sorry, I always try to be intelligent in my posts, but couldn't as I don't understand the proposal in the article it was therefore difficult to give a viewpoint…..I also don't understand Roberts comment that you really like so I best leave this thread as no explainations seem forthcoming.

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        1. Robert May
          October 8, 2014 at 13:35

          Actually Wilko yours was a good post; you identified what is an oxymoronic advert aimed a service suppliers rather than Agents themselves. (they conflict is that good Tech firms shouldn’t need the cash lifeline they are being offered)

          Mr Butt is looking for technologies that are going to give him 3 -5 year, 10 fold returns. (Invest £100,000 hoping to pull £1,000,000 out in 3-5 years time) Many tech firms are great at developing but not so great at selling or business development and that is what Faisal is hoping to capitalise on.

          Right now all the constituent ingredients are in place for the next generation of technology in Agency, just as they were in 2008. There is some good money to be made from selling tech firms but even more from buying solutions that have been developed but haven't started to sell yet.

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          1. RealAgent
            October 8, 2014 at 13:47

            It could be that, but actually I think its just a glorified advert for letting commercial property space with the investment aspect being a rent free period!

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          2. Robert May
            October 8, 2014 at 14:38

            Eeek! That could be a VERY expensive rent free period.

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          3. PeeBee
            October 8, 2014 at 15:52

            RealAgent – trust me… that's only his 'starter for 10'!

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          4. PeeBee
            October 8, 2014 at 15:53

            Oh, bot! Posted in wrong place. Ignore (like usual, then…).

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          5. PeeBee
            October 8, 2014 at 16:18

            OI! wilko – Robert said "Actually Wilko yours was a good post". What's going one here? Next you will be nominating one of his for Comment of the week…

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  8. wardy
    October 8, 2014 at 12:21

    Is this Butt guy the person who scrapped agents listings, wacked them on facebook and then tried charging for the privilege?
    Hows that going for him?

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    1. PeeBee
      October 8, 2014 at 15:50

      Talking of scraping listings, wardy – meet Mr Surveyor. He and our old mucker RR are two peas on exactly that same pod, you know… ;o)

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  9. Surveyor
    October 8, 2014 at 15:02

    Faisal – if you are reading this post then you have found your next Zoopla. It's going to be http://www.totallymoving.co.uk Embryonic stages at present, once I secure the investment though (currently working on that) watch this space. The site offers a 'one stop' property portal to help buyers, sellers and/or tenants choose how they wish to transact in property. The future is bright, the future is totallymoving.co.uk

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    1. RealAgent
      October 8, 2014 at 15:10

      Call me old fashioned but I see the big hole in your plan to be the next Zoopla is that you missed out Landlords.

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      1. PeeBee
        October 8, 2014 at 15:53

        RealAgent – trust me… that's only his 'starter for 10'!

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        1. RealAgent
          October 8, 2014 at 16:08

          Oh I know PeeBee, I nearly picked on asking whether the additional investment was through his wife selling cakes at the local fete, but with so many choose from I felt it only fair to leave some to others.

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    2. PeeBee
      October 8, 2014 at 15:49

      Oh, dear me… Mr Surveyor has decided that, despite petulantly stating "…to be honest I think I've now exhausted this forum… so will move to more lucrative feeding grounds" (and then chirping up another dozen or more times in the days following in best Hendryesque fashion) that he's obviously missing the traffic increase on his website so here he is creeping out of the woodwork once again and claiming that, one day, his offering will be the new 'Hovis'. Laughable. Doesn't even measure up to mouldy old dough…

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  10. Jonnie
    October 8, 2014 at 21:55

    @wardy, this guy isn't the Facebook nutter, don't confuse the 2 of them, this is the lad who off the back of some good stuff he knows about made some money with the Dragon bloke, might have been recruitment? Either way he then told us all ages ago on the old forum he was going to have it off with http://www.look4aproperty.co.uk which has gone very well indeed, then he mugged that poor lad off from LSL that had a good run in Kent and they set up wwww.ivygate.co.uk which has also gone well…….after that he felt the **** of that boy at wwww.emoov.co.uk and became his boss / took his business off him and since then that's gone well. The guy is a property genius with a 'proven track record' and all that, you can get a job with him by responding to adverts that finish with; Salary £Negotiable – Jonnie

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