Zillow to pay $50M for StreetEasy

TRD New York /
Aug.August 19, 2013 08:15 AM

8:15 a.m., Aug. 19: Real estate information giant Zillow will pay $50 million to acquire New York City-based listings site StreetEasy, the company announced this morning. The all-cash transaction is expected to close in the coming weeks. The deal will give Zillow access to StreetEasy’s 1.2 million unique monthly visitors, primarily prospective homebuyers in the New York region, according to the statement.

“Simply put, StreetEasy has cracked the code in New York,” said Zillow CEO Spencer Rascoff in a statement, adding that “we share a common goal: to help consumers become smarter about real estate by communicating comprehensive, unbiased information about apartments and homes.”

StreetEasy co-founder Michael Smith, who kicked the site off in 2006, said he was “very excited to be joining forces with Zillow, the largest national brand in mobile and online real estate, as we continue our commitment to data integrity, innovation and collaboration with the local real estate community,” in the statement.

In May 2012, Zillow paid $40 million for San Francisco-based rental management company RentJuice, and in November of the same year, shelled out $16 million to acquire rival HotPads.– Hiten Samtani


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

Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over
Spencer Rascoff explains Zillow’s house-flipping strategy

Spencer Rascoff explains Zillow’s house-flipping strategy

Spencer Rascoff explains Zillow’s house-flipping strategy
Zillow's Rich Barton (iStock)

Zillow’s revenue jumps 28%, but losses mount

Zillow’s revenue jumps 28%, but losses mount
StreetEasy NYC general manager Matt Daimler (iStock; Daimler via Zillow Group)

StreetEasy to agents: Post listings within 24 hours or lose privileges

StreetEasy to agents: Post listings within 24 hours or lose privileges
Zillow's Dan Spaulding and Rich Barton (Images via Zillow)

Zillow’s employees can work remotely forever

Zillow’s employees can work remotely forever
Zillow CEO Rich Barton and IBM CEO Arvind Krishna (Getty)

IBM slams Zillow with second suit over patented search tools

IBM slams Zillow with second suit over patented search tools
Matt Daimler, Richard Haggerty and the new OneKey MLS website

OneKey takes on StreetEasy with new listing site

OneKey takes on StreetEasy with new listing site
Rich Barton, Howard Lorber, Jay Hennick, Brett White

Real estate firms are raising billions in debt and equity. Here’s why

Real estate firms are raising billions in debt and equity. Here’s why
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...