Shares in estate agents Purplebricks dropped more than 8% in early trading, after founder and chief executive Michael Bruce left the online company.
Announcing his decision Bruce said, ‘Sitting around letting people market and sell their own house has become too tiring. I mean, it’s a 24/7 business and last week I woke up at 10.30am only to find my breakfast interrupted by a notification telling me I’d earned £10k while I slept.’
Mr Bruce and his brother Kenny founded the online estate agents in 2012.
In an interview shortly after the launch Michael revealed the idea was born after a drunken night in which he boasted to his brother that he could ‘make people hate estate agents even more’.
Purplebricks is also cutting back investment in the US.
Mr Bruce blames the US government who he says, ‘promised a massive new build on the Mexican border’ but failed to deliver it.
Non-executive chairman Paul Pindar apologised to shareholders for its recent “disappointing” performance.
But was reassured that everyone loves to see an estate agent struggling, and in that in these Brexit heavy times the news has lifted British spirits more than the royal birth.
In a statement Purplebricks said, ‘Going forward, we have a very clear understanding of the levers available to us to achieve growth.’
Those levers are said to be, talking shit, doing bugger all, and raking in the cash.