Trulia, a popular real estate search website, is being bought by Zillow
It was only a matter of time before the bigger fish ate the smaller fish! (Trulia has approximately 2/3 of the unique monthly visitors that Zillow has.)
I just got this announcement this morning:
As a valued real estate professional with a profile on Trulia, I wanted to reach out personally to let you know that we have just announced that Trulia has entered into a definitive agreement to be acquired by Zillow.
You can read the details in the complete press release here: ir.trulia.com.
This will be a new and exciting chapter for all of us. The combination of the two companies sets the stage for us to accelerate innovation and to provide more valuable tools and services to consumers and professionals.
Trulia and Zillow will continue to operate as separate and distinct brands once the transaction closes. We will continue to offer buyers, sellers, homeowners and renters access to vital information about homes and real estate for free and provide advertising and software that help you grow your business.
As additional details about the acquisition become available, we will make sure to let you know. For now, it’s business as usual at Trulia. Our focus and commitment to connecting you with consumers and helping you close more transactions remains the top priority of our entire team.
Advantages: Improved efficiency and $100,000,000 in “cost avoidances” to name but two.
When: The deal has been approved by both CEO’s and is to close in 2015
How much was Trulia bought for? $3.5 Billion!