Following last year’s acquisition, the proptech company’s absorption into the real estate giant has been completed after the three men at Realbase’s helm assumed new positions.
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Acquired in April 2022 for upfront cash considerations of $180 million plus contingent considerations of up to $50 million, Realbase’s partnership with Domain has “now taken full flight” according to a media release, which says the brand’s team members have been “officially welcomed” into Domain.
As part of the team’s integration into the ecosystem of the real estate giant, brothers Frank Greeff, Ken Greeff, and Jacques Greeff, who banded together to form the company some years ago, have assumed new roles within Domain’s organisation.
Ken Greeff assumes the role of director of engineering, while Jacques Greeff has landed as the network’s principal engineer. Both men’s focus will be targeted at improving Domain’s agent-facing products and platforms, including CampaignTrack and Realhub.
For Frank Greeff, he takes on the role of Domain’s first head of industry. He will look to evangelise Domain’s broad range of products with large agencies and groups while remaining to be a voice for Australasian real estate innovation.
The trio’s current position within the industry is a far cry from where they were placed before establishing their company. Before he and his brothers began the firm, Frank Greeff worked 16-hour days as a chef at Sydney restaurant, Bathers’ Pavilion.
“My days as a chef were intense, exhausting, and yet some of the most rewarding days of my life as they delivered powerful lessons that I credit to taking me to where I am today,” he said. The brothers entered business together, initially creating a signboard business that installed thousands of signs throughout Sydney.
However, soon they realised the opportunity to disrupt, innovate, and deliver increased value, was within grabbing distance. It was here they birthed the Realhub platform, which they grew to generate $4.2 million in annual revenue over a four-year period.
In 2020, RealHub and Campaintrack merged. Two years later, Domain acquired the business, marking a major milestone for the executive team.
At the time, Domain’s managing director and chief executive officer, Jason Pellegrino, said “each of Realbase’s solutions complements and extends the value proposition Domain can take to agents.”
Following the acquisition, Frank Greeff stressed his primary focus was on “ensuring a smooth transition for my Realbase team members as they fully integrate into Domain Group.”
“I’m confident in the approach we took, supporting team members at an individual level as well as focusing on the importance of combining company cultures,” he added.
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