Zillow buys the MLS of the Hamptons

HREO will be the yin to StreetEasy's yang, says Susan Daimler

TRD New York /
Jan.January 13, 2017 02:50 PM

New York City isn’t enough for Zillow — it’s taking on the Hamptons too. Under its StreetEasy subsidiary, the real estate database company acquired prominent Long Island real estate portal Hamptons Real Estate Online, or HREO.

Terms of the deal were not disclosed, according to Investopedia.

As part of the acquisition, Zillow will also own software that HREO offers to real estate professionals for listing management and distribution, called RealNet and Open RealNet Exchange.

HREO and StreetEasy are “intrinsically linked to one another,” StreetEasy general manager Susan Daimler said in a statement. “[T]he Hamptons and NYC. It’s a natural pairing.”

Seattle-based Zillow acquired StreetEasy for $50 million in 2013, and bought out its closest competitor, Trulia.com, for $2.5 billion in 2015, after which its revenue rose by over 300 percent. The company’s stock price jumped 63 percent in the last year, and it turned a profit by the third quarter of 2016.

Zillow coughed up $130 million in June to settle a lawsuit with Move Inc. and the National Association of Realtors, which sued the former over alleged theft of trade secrets after it poached two Move execs in 2014. [Investopedia] — Cathaleen Chen


Related Articles

arrow_forward_ios
Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash
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
Placeholder image

Zillow to pay $50M for StreetEasy

Zillow to pay $50M for StreetEasy
Ron Perelman and his estate in the Hamptons (Getty; Google Maps)

Ron Perelman mulls listing Hamptons estate for $180M

Ron Perelman mulls listing Hamptons estate for $180M
Clockwise from top left: Daniel Schreiber, Rich Barton, Glenn Kelman, Andy Florance and Glen Sanford.  

No “rout” about it: Real estate tech stocks rebound

No “rout” about it: Real estate tech stocks rebound
Manhattan office real estate market is getting hit by subleasing (iStock)

Spike in Manhattan’s office sublease explained

Spike in Manhattan’s office sublease explained
Facebook’s Mark Zuckerberg and Zillow’s Rich Barton (Getty)

Got space? Manhattan office availability hits 7-year high

Got space? Manhattan office availability hits 7-year high
(iStock)

Cities dying? Suburbs booming? Data don’t show it

Cities dying? Suburbs booming? Data don’t show it
arrow_forward_ios

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

Loading...