Could easily go to 10c, then again could take off overnight. I...

Could easily go to 10c, then again could take off overnight. I think the key driver will be how quickly they can scale the business. If they fall short of growth objectives, or if listings crater as soon as they start charging, then the market will promptly drop them. If they continue growing to the point that they start charging and have a breakeven business, I'd expect it to jump to 50c easily.

Given they have $5m in the bank I think they are fairly well shielded from needing to do a CR in the near term.

Play around with the site, I happen to think it's more user friendly than REA, and being focused on renters means they should be able to provide a better service, provided they have the volume of listings.