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The Real Deal Los Angeles

Inside the battle for StreetEasy’s soul

Three years after buying the NYC listings portal, Spencer Rascoff’s Zillow is rolling out controversial (but lucrative) programs that have led to all-out war with residential brokers. Is there a resolution in sight?
By E.B. Solomont | April 04, 2017 01:30PM

Spencer Rascoff

From TRD New York: The ink was barely dry on Zillow’s 2014 agreement to buy Trulia for $2.5 billion when the real estate behemoth got its first real challenge — from media titan Rupert Murdoch, no less.

Just 60 days after news broke that the two national residential-listings websites would merge, News Corp. announced its own massive acquisition: The $950 million cash purchase of Move Inc., which operates rival listings site Realtor.com.

At 5:58 a.m. on September 30, the day of News Corp.’s announcement, Zillow CEO Spencer Rascoff came out swinging on Twitter with a two-word reaction: “Game on.”

Reverberations of that tweet are still being felt industrywide thanks to Zillow’s relentless pursuit to dominate the digital-listings space — and to drive value to shareholders. [More]