This past summer, Gumtree became an independent company after completing a carve-out from our previous owners, eBay. The process was complex but allowed us to reshape some core elements of the business. Now that the carve-out is complete, the year ahead will be significantly different as we build towards other strategic goals.
With living and business costs expected to remain unsustainably high in 2024, Gumtree – like its users – will need to be savvy with its cash. After two years of funding enormous infrastructural changes in our journey to independence, how and where we spend our money will naturally change. We will continue to be lean and efficient, but will build upon the investment made in our technology, tools and team over the past year.
Our strategic focus on our users and our product remains unchanged. Gumtree is a 23-year-old business, so continuing to modernise our tech stack is imperative if we are to keep driving and supporting local trading. We're investing in a new app due to launch this summer, making it even easier to buy, sell and trade locally.