Zillow Inc., the publicly traded online real estate information company, has completed its acquisition of San Francisco-based RentJuice Corp. for approximately $40 million in cash. The deal was announced last month. RentJuice provides rental relationship management software for landlords, property managers and rental brokers.
Zillow Inc. (Nasdaq:Z), the leading real estate information marketplace, today
announced it has completed the acquisition of San Francisco-based
RentJuice Corporation for approximately $40 million in cash. The
planned acquisition was announced last month.
RentJuice(R) provides rental relationship management software for
landlords, property managers and rental brokers to help them market
their inventory to renters and manage client relationships. RentJuice
currently serves more than one million rental units and its rental
listings are syndicated to numerous websites, including Zillow(R).
“We see a huge market opportunity in rentals. More than seventy percent
of movers each year are renters and rental units turn over six times as
frequently as homes for sale, yet the professional market is highly
fragmented,” said Spencer Rascoff, Zillow CEO. “RentJuice’s marketing
and productivity tools are an incredible resource for rental
professionals and this acquisition is a valuable accelerant in building
Zillow’s own rental marketplace. We are incredibly excited to
officially welcome the entire RentJuice team to Zillow.”
RentJuice, which launched in 2009, will continue to operate from its
San Francisco office. The company’s founder and CEO David Vivero has
been named vice president of rentals at Zillow, reporting directly to
“Zillow is the unrivaled category leader and we’re excited to become
part of the team that’s recognized as pioneering technology and
innovation across the entire real estate industry,” said Vivero.
Rentals is Zillow’s newest home-related marketplace that represents a
sizable and growing market in the United States with more than 93
million renters in 43.4 million rental units, according to the latest
Census. Currently, more than six million renters already visit Zillow
each month via mobile and the Web.
RentJuice is the third acquisition by Zillow. In spring 2011, the
company acquired Postlets, a leading online real estate listing
creation and distribution platform, and, in fall 2011, Zillow acquired
Diverse Solutions, which helps real estate agents market their
businesses and improve their personal websites. Each of these companies
provides valuable services that support Zillow’s strategic expansion
beyond a traditional media model to offer a suite of marketing and
business services to local professionals.
About Zillow, Inc.
Zillow (Nasdaq:Z) is the leading real estate information marketplace,
providing vital information about homes, real estate listings and
mortgages through its mobile applications and websites, enabling
homeowners, buyers, sellers and renters to connect with real estate,
mortgage and rental professionals best suited to meet their needs. More
than 32 million unique users visited Zillow’s websites and mobile
applications in April 2012. Zillow, Inc. operates Zillow.com(R), Zillow
Mortgage Marketplace, Zillow Mobile, Postlets(R), Diverse Solutions(TM)
and RentJuice(R). The company is headquartered in Seattl