Retsly, a Vancouver-based real estate software company, has been bought by Zillow Inc (NASDAQ: Z), a U.S. real estate and home-related marketplace. The financial terms of transaction were not disclosed. Zillow said the acquisition will support its efforts to provide innovative tools to help brokers, agents, franchisors and multiple listing services be more productive and successful. Founded in 2013, Retsly was a portfolio company of Canadian startup accelerator GrowLab and secured seed-stage funding from angel investors and BDC Venture Capital as part of its partnership with GrowLab.
Zillow Acquires Retsly
Technology company’s platform enables developers to build productivity tools for the real estate industry using MLS data
SEATTLE and VANCOUVER, British Columbia, July 16, 2014 /PRNewswire/ — Zillow, Inc. (NASDAQ:Z), the leading real estate and home-related marketplace, today announced it has acquired Vancouver, BC -based Retsly™, a software company that normalizes real estate data from multiple listing services so developers can build data-driven products for the real estate industry. The company also provides MLSs with the tools to manage software applications in their market and ensure their content is being used appropriately. Zillow® is not disclosing the financial terms of the acquisition.
The acquisition of Retsly is an extension of Zillow’s efforts to provide innovative productivity tools to help brokers, agents, franchisors and MLSs be more productive and successful, and is an extension of the widely-adopted Zillow Tech Connect program. Zillow Tech Connect, launched in November 2013, enables leading technology companies to directly integrate with Zillow to help brokers and agents deliver better, smarter services to buyers and sellers.
“Retsly’s platform will spur tremendous innovation in the real estate space, enabling developers to build software that works across MLS boundaries and without the overhead of dealing with local data formats,” said Spencer Rascoff, Zillow CEO. “Retsly’s team and cutting-edge technology is a great fit with Zillow and aligns with our goal to offer great value and services to our industry partners. We’re thrilled to welcome Retsly to Zillow.”
“We are committed to providing the software development community with tools that make it easier to build amazing technology products and applications for real estate professionals,” said Joshua Lopour, co-founder of Retsly. “With Zillow, we look forward to accelerating the growth of a vibrant software community within the industry.”
Retsly, which was founded in 2013, will continue to operate from Vancouver.
This is Zillow’s eighth acquisition, and the sixth of a company that offers a suite of business-to-business tools for local professionals.
About Zillow, Inc.
Zillow, Inc. (NASDAQ:Z) operates the leading real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. Zillow’s brands serve the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. In addition, Zillow offers a suite of tools and services to help local real estate, mortgage, rental and home improvement professionals manage and market their businesses. Welcoming 83 million unique users in June 2014, the Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™ StreetEasy®. The company is headquartered in Seattle.
Zillow.com, Zillow, Postlets, Mortech, Diverse Solutions, StreetEasy, Agentfolio and Digs are registered trademarks of Zillow, Inc. HotPads and Retsly are trademarks of Zillow, Inc.
SOURCE Zillow, Inc.
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