Zillow Inc (NASDAQ:Z) has launched a new preapproval feature for its mobile app. Zillow currently has over 83 million unique users across its website and apps. Around two thirds of these users visit Zillow through a mobile device. Over the weekends, 70% of Zillow’s traffic is on mobile devices.
Zillow is acquiring Trulia for $3.5 billion in stock. Combined, Zillow and Trulia will run a giant repository for online listings for real estate values. As part of the deal, Zillow will pay 0.444 of one of its shares for each share in Trulia. The deal is worth $70.53 per share of Trulia, which is a 25% premium. In June, Zillow reported 83 million users across the web and mobile devices, while Trulia reported 54 million.
Zillow Inc (NASDAQ:Z) is rumored to be in talks to acquire Trulia Inc (NYSE:TRLA). This would create a dominant search website for people that are looking for houses in the U.S. Zillow is the largest real estate website and it would acquire the second largest for $2 billion in cash and stock, according to sources with Bloomberg.
Zillow, one of the largest real estate websites, has announced recently that it has acquired Retsly. Retsly is a software company that normalizes real estate data from multiple listing services so that developers can build data driven products for the real estate market. Retsly also offers MLSs with tools to manage software applications for their respective markets. Zillow did not disclose the value of the deal.
Zillow Inc (NASDAQ:Z), the popular real estate website, has announced Q1 earnings today. Zillow’s revenue for the quarter increased by 70% to a record $66.2 million from $39 million in the first quarter of 2013. The GAAP loss per share was $0.16 in the Q1 2014 with non-GAAP net income per share at $0.02 in the first quarter. Analysts were expecting Zillow to post a loss of $0.24 for the quarter. Zillow reported a GAAP net loss of $6.3 million in Q1 2014 due to planned increases in advertising expenses compared to GAAP net loss of $3.7 million in Q1 2013.
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Online real estate service Zillow Inc (NASDAQ:Z) has been sued by Move and the National Association Of Realtors for poaching the former president of Realtor.com. Move is the company that runs Realtor.com and moving.com. Zillow hired former Realtor president Errol Samuelson as its chief industry development officer. Move is suing for breach of contract, breach of fiduciary duty, and misappropriation of trade secrets.
Zillow Inc (NASDAQ:Z) has acquired StreetEasy for $50 million in cash. The company also applied for a follow-on offering of another 2.5 million shares of Class A common stock. This is equivalent to around $228 million based on the company’s closing stock price of $91.22 on Friday. StreetEasy receives around 1.2 million monthly unique visitors.
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