It's official, Zillow is acquiring Trulia!
Just opened my email and found two emails, one from Spencer Rascoff and one from Peter Flint letting me know it is official Zillow is acquiring Trulia. The rumors were true and the companies have moved quickly. You can read the full press release here.
What is interesting is that is values Trulia at $3.5 billion dollars and that both companies are going to be run independent of each other for now to provide the consumer more choice.
So what is the advantage of them combining:
- Cost Savings
- Faster innovation
- Greater return on Investment for advertisers
- Broader distribution
- Greater access to free real estate market data
The deal most likely will not close till 2015 and needs regulatory and shareholder approval.
So is this good for the consumer? And is it good for real estate agents? What does it mean for AR?
We will have to wait and see, but these two companies have been decimating other real estate websites and have certainly been a hit with consumers, even with their wrong data, inaccurate pricing models etc.
As many people advise in the new world of business, ship the product and make changes as you go along to improve. Certainly both of these companies have done that and have benefited from it.
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