Zillow Acquires StreetEasy For About $50 Million

Posted by Patrick Barnard on August 19, 2013 No Comments
Categories : Residential Mortgage

Zillow Inc. is acquiring StreetEasy, a New York City real estate website, for about $50 million in cash.

StreetEasy, which launched in 2006, provides accurate and comprehensive for-sale and for-rent listings through partnerships with all of the largest real estate brokerages in New York. The site, which attracts nearly 1.2 million unique visitors per month, offers several layers of data, organized and presented in ways that help both consumers and real estate professionals.

The deal gives Zillow greater presence in the country's largest real estate market. What's more, it gives StreetEasy the resources to further invest in product development and grow its user base.

‘StreetEasy is an excellent strategic fit with Zillow, as we share a common goal: to help consumers become smarter about real estate by communicating comprehensive, unbiased information about apartments and homes,’ says Zillow CEO Spencer Rascoff. ‘StreetEasy is an incredibly strong and recognized brand in New York City and complements Zillow's dominant and growing national brand. We're delighted to welcome the enormously talented and knowledgeable StreetEasy team on board.’

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