Zillow Buys Trulia for $3.5 Billion/ July 29, 2014
Yesterday, real estate website operator Zillow bought its rival Trulia for a whopping $3.5 billion that can possibly make it the biggest player in the online real estate market. CBS Miami, a local news source, reported on the transaction, claiming Zillow will also become the king of real estate listings available on smartphones.
“It’s a very sound business move by Zillow, they wiped out their closest competitor,” said Benchmark analyst Daniel Kurnos. According to Benchmark estimates Zillow and Trulia are No. 1 and 2 in the online real estate market, followed by No. 3 Move Inc.
The combined company will keep both the Trulia and Zillow brands (Aw, no new “Trillow” or “Zulia” name). Trulia shareholders will receive 0.444 shares of Zillow common stock for each share they hold, and will own approximately 33 percent of the combined company. Zillow Inc. shareholders will receive one comparable share of the combined company and own the other two-thirds of the business.
For the latest news in the real estate industry, trust TREM Group to keep you in the loop. TREM Group is passionate about Miami Real Estate Marketing. For over seven years, we’ve helped realtors all over South Florida develop state-of-the-art websites that provide fantastic leads. Our approach is effective because we’re constantly measuring our own services by one simple but important metric: results. That’s why we employ the latest IDX and mapping features, interactive HTML 5 pages, and other state-of-the-art tools. See the fruits of work for yourself by visiting our portfolio, which features customized websites designed for some of the biggest names in Miami Real Estate.
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