Free Market Evaluation - Send us your resume and we will give you free feedback
Sony Faces Constitutional Challenges after Hacking Incident
Sony Faces Constitutional Challenges after Hacking Incident
Uber Allowed to Operate in France Though Legal Issues Continue Worldwide
Uber Allowed to Operate in France Though Legal Issues Continue Worldwi...
Legal Fee Bill of $2.7 Billion to be Paid by Citigroup
Legal Fee Bill of $2.7 Billion to be Paid by Citigroup
Uber Driver Arrested in India for Alleged Sexual Assault of Passenger
Uber Driver Arrested in India for Alleged Sexual Assault of Passenger
Legal Job Listings

Zillow Merges with Trulia for $3.5 Billion

trulia zillow

Zillow and Trulia, after nine years of competition in the online real estate community, have decided to merge and combine their efforts. After Zillow’s chief executive Spencer Rascoff approached his competition, with the soothing words of a spectacular merger, Trulia didn’t long remain coy, but after a mere six weeks the two decided to join. Goldman Sachs advised Zillow, as did Shearman & Sterling and Perkins Coie, while JPMorgan Chase and Qatalyst Partners advised Trulia, as did Goodwin Proctor and Wilson Sonsini Goodrich & Rosati.

The final deal gave Trulia shareholders 0.444 shares of Class A Common Stock of Zillow for every owned Trulia Share, landing a third of the company in their pocket, and giving them a 25 percent premium on Trulia’s closing price last Friday of $56.35.

Zillow’s strength rested in its appeal to buyers, what with its “Zestimates” on property worth, whereas Trulia appealed especially to home sellers. Combining the two seems like a natural fit, and will help them seek what they want, to gain leverage over ad sales, where they make most of their money.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Though they will dominate the online market, they nevertheless won’t amount to a trust, says Rascoff.

Their merged company earned $341.2 million last year, which is but a fraction of the $12 billion the real estate industry spends on marketing each year.

“This is a tremendous opportunity to combine our resources and achieve even more impressive innovation that will benefit consumers and the real estate industry,” said Rascoff, as reported by USA Today.

“Both companies are coming at this from a lot of strength and momentum,” he also said, and is enthusiastic about what their shared future may hold. Both of them have already grabbed other markets – Zillow buying Streeteasy last year and Trulia buying Market Leader last spring.

They will nevertheless remain in competition until the merger is sealed next year.

Zillow Merges with Trulia for $3.5 Billion by

Tagged: , , , , , ,

Daniel June Posted by on July 28, 2014. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Legal Assistant / Secretary - Bilingual
USA-GA-Gainesville

~~Rapidly expanding General Law Firm seeking a Legal Assistant/Secretary to join our team at our Gainesville, Georgia location !  Our firm is a goal/target oriented, fast-paced environment with a...

Related Posts: