Zillow to Purchase Trulia; A Merger That Will Create a Real Estate Giant Listing Website

.

Zillow to Purchase Trulia; A Merger That Will Create a Real Estate Giant Listing

On Monday, the leading website of online real estate listings, Zillow Inc announced that it plans to buy Trulia, its main rival, for an amount of $3.5 billion in stocks.

Insides from the industry say the corporate merger likely aims at cutting the marketing costs that summed up to $382 million in the past year. By coming together, they anticipate to save some $100 million every year.

Zillow, the Seattle-based company said will acquire San Francisco-based Trulia for $3.5 billion in stock and the deal is likely to complete in 2015.

Even when the deal comes through both the well-known websites will keep their names along with the separate sites. However the merger of the two will result in a huge growing business of online real estate listings.

In June, Zillow and Trulia together had 137 million exclusive visitors said the companies which was a larger number than National Assn. of Realtors-affiliated Move Inc. which is their next biggest contender.

Both the sites, with their treasury of home listings that are searchable as well as mapable along with other data, has made it possible to alter the way Americans buy homes.

The sites give consumers the kind of information which was for a very long the included exclusively on the domain of agents as well as multiple listing services.


Latest News

Gold Jumps as Yellen says the Fed may take a Go Slow Path for Interest Rate Hike
Cracknell supports tax on sugary drinks in the UK
Patients less likely to die with more nurses, study
Gasoline Prices Drop Further in the Midwest and West due to Oversupply
Deutsche Bank Executives Face a Tough Turnaround Plan as Investors Lose Confiden
Viacom Misses Earnings Expectations for the Fifth Straight Quarter; CEO Takes a
Walt Disney Co. Reports Greater Than Expected First Fiscal Quarter Profits
Lara Casalotti finds stem cell donor
Sending mentally ill people long distances must stop, panel
Zenefits CEO Leaves Over Compliance Issues COO Takes Over
Apollo Education Group will be Acquired by a Group of Private Investors
BOJ’s Negative Interest Rate Expected to have Major Influence on Japan’s Banks