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  • Zillow acquires Diverse Solutions for $7.8 to help Real Estate Agents increase their Visibility

    November 10th, 2011 No comments

    Zillow, the Seattle – based real estate information marketplace, has recently announced the fact that it has acquired Diverse Solutions, a Californian company which develops marketing tools for the real estate agents. This acquisition has been made for $7.8 million in cash and stock. Diverse Solutions is a company which develops property search and listing tools which are very suitable for real estate agents as they can easily be integrated on the agent’s websites and blogs. Zillow stated that this new acquisition has been made in their attempt of helping real estate agents increase their visibility online, helping them thus to grow their business. The software developed by Diverse Solutions includes providing listings content and property search functionality for the Web and for mobile platforms. By this new acquisition, Zillow manages to add a new set of important tools to the company which are going to help the Zillow agents grow their business and bring more revenue to the company such wise.

    Spencer Rascoff, the CEO of Zillow, stated the following: “We’re very impressed by the products and team that Diverse Solutions has assembled, and we look forward to offering agents these new solutions for powering their websites and marketing strategies. With this acquisition, Zillow now can offer agents a broad suite of valuable tools to market themselves across the Web and mobile – whether on their own websites via Diverse Solutions, on Zillow, or across multiple sites via our listings distribution service, Postlets.”

    At the moment, Diverse Solutions has 18 employees and more than 6.000 customers, most of which are real estate agents. As one of the Zillow’s spokeswoman declared, the 6-year-old start-up which has recently been acquired is going to continue to activate from its current location in Irvine, Calif.

    As a result of this acquisition, Justin LaJoie, the founder and CEO of Diverse Solutions, is going to join Zillow in the position of vice president of industry solutions. After this news, LaJoie stated the following: “We are thrilled to join Zillow, and excited for the opportunity to introduce Diverse Solutions’ suite of services to millions of real estate agents who use Zillow every month.”

    This new acquisition has been announced by Zillow in the same day in which the company released its third quarter earnings report which has indicated record revenue of $19.1 million, which means that the company has grown up to 132 percent since the same period last year. This is the second successful quarter for Zillow as a publicly traded company, which follows the very successful IPO which took place last July.

    Zillow is one of the leading real estate information marketplace which provides vital information concerning homes, real estate listings and mortgages through its site and its mobile applications which enable homeowners, buyers, sellers and renters to discuss with some real estate and mortgage professionals in order to find the answers for all their questions and to find the best solutions for their needs in a really quick way. The company registered a number of 24.6 million unique users only during the month of October 2011.

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