|It’s my pleasure to let you know we have just announced that Trulia has entered into a definitive agreement to be acquired by Zillow. You can read the full press release here: ir.trulia.com.
This combination sets the stage for us to offer even more real estate tools and services to empower consumers and drive even more business to local brokerages and their agents.
Trulia and Zillow will continue to operate as separate and distinct brands once the transaction closes, as both will continue to offer buyers and sellers access to vital information about homes and real estate, providing an important bridge to local agents across the county. We’ll work hard to make sure the great partnerships we have with brokers and franchises nationwide continue to prosper.
The proposed transaction will require both customary regulatory and shareholder approvals. We believe these processes could take several months. As always, we intend to be as transparent as possible and will keep you informed as decisions are made and information becomes available.
For the time being, our normal operations are not affected whatsoever by this announcement, and it is business as usual for both companies. Our daily focus and strong commitment to partnering with the real estate industry remains unchanged and of the upmost importance to our entire team.
You’ll be hearing more from us in the days to come, and we’ll be happy to answer any questions you may have. Please contact Nick Bailey with any questions.
This was the letter from Trulia CEO Pete Flint that went out this morning. As a big player ourselves in this market we were blown away by the news and see it as similar to Coke buying Pepsi as it relates to the online real estate market. It will be exciting to see how this shapes online real estate moving forward and the family of companies owned by Trulia as well.