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
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
Zillow CEO Rich Barton (Credit: Barton by Steve Jennings/Getty Images for TechCrunch; iStock)

Zillow relaunches iBuying program

Zillow relaunches iBuying program
Zillow CEO Rich Barton (Credit: Andy Cross / The Denver Post via Getty Images)

Zillow CEO on coronavirus crisis: “We have passed peak fear”

Zillow CEO on coronavirus crisis: “We have passed peak fear”
Service workers could end up spending less of their income on rent with federal relief than before the coronavirus pandemic hit the United States (Credit: Photo by Getty Images)

TRD Insights: Risk of housing insecurity rises for black and Latino households

TRD Insights: Risk of housing insecurity rises for black and Latino households
A Zillow virtual company meeting on April 17 (Credit: @rich_barton on Twitter)

Zillow says employees can work from home for rest of 2020

Zillow says employees can work from home for rest of 2020
arrow_forward_ios

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

Loading...