Rent.com.au, page-24

Their goal is to drive traffic to the site and get the sign ups. Which is why I’m not anticipating any real revenue growth in the first year really. And explains the $14m market cap. Some revenue will be derived from the extra services provided e.g. rentbond, rentreport, rentcheck etc but its not going to be huge.
Once they have established themselves as the leading website for rentals, they can then start charging listing fees. As a landlord, if you know that 70%+ of renters will come to this site to search for new places, then you’d quite happily pay the $99 listing fee. It is a lot cheaper than paying agents (usually couple of hundred bucks) + commission on the rent.