Real Estate NEWS: Zillow has entered into an agreement to acquire Trulia, Inc. for $3.5 billion in a stock-for-stock transaction. The agreement is expected to close in 2015 as a combined company, offering buyers, sellers, homeowners and renters access to vital information about homes and real estate for free.
“Consumers love using Zillow and Trulia to find vital information about homes and connect with the best local real estate professionals,” explains Zillow CEO, Spencer Rascof. “Both companies have been enormously successful in creating compelling consumer brands and deep industry partnerships, but it’s still early days in the world of real estate advertising on mobile and Web. This is a tremendous opportunity to combine our resources and achieve even more impressive innovation that will benefit consumers and the real estate industry.”
“Trulia and Zillow have a shared mission and vision of empowering consumers while helping real estate agents, brokerages and franchisors benefit from technological innovation,” said Trulia CEO Pete Flint. “By working together, we will be able to create even more value for home buyers, sellers, and renters, as well as create a robust marketing platform that will help our industry partners connect with potential clients and grow their businesses even more efficiently. Our two companies share complementary employee cultures with innovative, consumer-first philosophies and a deep commitment to create the best products and services for our industry partners.”
By combining the companies, consumers will be empowered in their real estate needs through more real estate tools and services including:
- Faster Innovation.
- Greater Access to Free Real Estate Market Data.
- Broader Distribution.
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