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Real estate convergence? Zillow to buy Trulia for $3.5B

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On-line realty site Zillow(s z) is buying rival Trulia(s trla) in  a $3.5 billion stock deal. This move comes less than a year after Zillow acquired StreetEasy for $50 million. In 2012, it bought apartment search site HotPads. Trulia bought Market Leader last year for $315 million.

The converged company will keep both brands and Trulia CEO Pete Flint will stay on as CEO of Trulia and report to Zillow CEO Spencer Rascoff, according to a statement. Flint will also join the Zillow board as part of the deal, which is expected to close next year.

While both companies specialize in real estate listings and data, they maintain there is little customer overlap.

Citing their own figures, Zillow said it had 83 million unique users in June while Trulia reported 54 million. The companies said about half of’s monthy visitors do not visit at all and 2/3rds of users do not use



One Response to “Real estate convergence? Zillow to buy Trulia for $3.5B”

  1. ishekhar

    something really needs to be done to bring fluidity and to reduce the huge overhead associated with outdated realtors model; charging a fee of 4-6%, just to get you a few showing.

    Most of the people I know, do most of the work themselves, out of curiosity or need or simply because they have the tools, further proving the point

    Hope this merger takes consumers one step closer to that direction.