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?

TRD LOS ANGELES /
April 04, 2017 01:30 PM
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]


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