PHOTO: Purplebricks is challenging traditional estate agents (Source: Getty)
Purplebricks, which doubled revenue to £94m last year, will share a 26 per cent stake in Homeday with media giant Axel Springer, the owner of Bild and Business Insider, Sky News first reported.
Read more: Millennial home ownership slides as affordability crisis worsens
The two will have the option to buy a further 28 per cent of the company next year, raising the prospect their joint venture could hold a majority stake.
Homeday, which accounts for around half of the German online market, is believed have turned over approximately €4m (£3.5m) in 2017, and is growing quickly.
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