The Real Deal New York

Zillow acquires Trulia for $3.5B in stock

Two real estate sites will maintain their individual consumer brands

July 28, 2014 10:00AM

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From left: Pete Flint and Spencer Rascoff

From left: Pete Flint and Spencer Rascoff

Zillow has reached a final agreement to buy rival website Trulia for $3.5 billion in a stock-for-stock transaction.

The boards of the two companies approved the deal, which is expected to close in 2015, according to a press release from Zillow.

Zillow and Trulia will maintain their individual consumer brands. Pete Flint will stay on as Chief Executive Officer of Trulia and will report to Zillow’s CEO Spencer Rascoff. Flint will also join the Board of Directors of the joint company.

Zillow, which went public in 2011 and has seen share prices quadruple since the beginning of 2013, bought StreetEasy for $50 million a year ago.

The transaction combines two of the most visited real estate websites in the country. In June, Zillow reported 83 million unique visitors, both through the web and mobile applications. In that same month, Trulia reported 54 million monthly unique visitors. The two companies, however, have limited consumer overlap. — Claire Moses

  • truthordare

    these white dudes look like the same people!!!

  • You look like me

    He bought himself…

  • Slapintheface

    To truthordare: How about you stop to consider the the implications of your comment that “these white dudes look like the same people!!!” You mean they both look well-groomed, fit, handsome and normal? Now try this one on for size, you dumb moron. You know those Black people walking around the city with their pants down around their ankles and baseball hats with oversized straight brims? Yea, they all look like the same people too, to wit: lawless, aimless and jail-bound. If you are prepared to dish racially-charged stereotypes, then be prepared to take them too.

  • hulka

    lighten up Francis

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