Monday, July 28, 2014

Zillow Buys Trulia For $3.5 Billion

Seattle-based Zillow said this morning that it will pay $3.5 billion in stock for Trulia, creating a huge online, real estate giant. According to Zillow, the two companies will continue to operate both the Zillow and Trulia consumer brands. Trulia CEO Pete Flint will remain in charge of Trulia, and will also join Zillow's board of directors; Zillow also said another member of Trulia's board will also join the board of the combined company. Zillow said it expects the company to save at least $100M a year in costs by combining efforts.