Zillow.com acquires RentJuice for $40M

TRD NEW YORK /
May.May 02, 2012 04:52 PM

Real estate information site Zillow.com has entered into an agreement to acquire RentJuice, the San Francisco-based online rental management company which launched in 2009 and expanded to New York last year, for $40 million in cash.

RentJuice, which has 31 employees, provides rental management software for landlords, property managers and rental brokers. It offers subscription-based marketing tools for rental professionals, including rental listings management software, consumer credit screening and an online system for consumers to submit rental applications. Zillow.com meanwhile, is a comprehensive real estate database that famously uses a proprietary algorithm called the “Zestimate” to appraise property values.

“Zillow has spent the last six years building robust marketplaces for real estate and mortgages, and we are in the midst of growing our rental marketplace, which has tremendous potential,” said Spencer Rascoff, Zillow’s CEO. “The acquisition of RentJuice, with its talented team and innovative solutions for rental professionals, propels Zillow’s rental marketplace ahead by years. We are very excited to welcome the RentJuice team into Zillow.”

RentJuice CEO David Vivero added: “Becoming a part of Zillow will allow us to invest more and innovate faster on behalf of the leasing professionals we support.” — Katherine Clarke

 

Related Articles

arrow_forward_ios
Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over

Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over

Placeholder image

Zillow to pay $50M for StreetEasy

Zillow CEO Richard Barton (Credit: JD Lasica via Flickr, iStock)

Zillow slashes expenses by 25%, cancels revenue guidance

Zillow CEO Rich Barton (Credit: Erik (HASH) Hersman via Flickr)

Zillow latest iBuyer to press pause

Realogy CEO Ryan Schneider (Credit: Jhila Farzaneh for The Real Deal)

Realogy is latest iBuyer to suspend cash offers

StreetEasy's Matt Daimler (Credit: Dave Dugdale via Flickr)

StreetEasy slashes fee to post rental listings

Zillow CEO Richard Barton (Credit: JD Lasica via Flickr)

Citing uncertainty, Zillow gives agents 50% discount on Premier Agent

CEO Anthemos Georgiades (Credit: iStock)

Zillow rival Zumper raises $60M to build more rent-payment tools

arrow_forward_ios
Loading...