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

Oil Prices Drop Near Four-Month Low as Supply Glut and Chinese Economy Increases
Reportedly A.G. Lafley to Pass Reigns of P&G CEO to David Taylor
Baidu Profits in Second Quarter Offset by Higher Expenses
Economists Predict Solid Revenue Growth for Vermont
Swiss bank Vontobel Announces 24 Percent Increase in Profit in the First Half of
President Obama Visits Kenya, His Father’s Birth Place
National Highway Traffic Safety Administration Slaps $105M Fine on Fiat Chrysler
Wealthy, Well Educated People in Early 60’s More at Risk of Harmful Drinking
Amazon’s Strong Second Quarter Results Boost the Company’s Share
Weak PMI in China Raises Concern and Asian Shares Drop on Friday
Even with Lower Sales, Coca-Cola’s Profit Increases
Qualcomm Plans to Cut Jobs and May go in for a Spin Off