As you’ve probably heard by now, Zillow recently entered into a definitive agreement to acquire Trulia. The deal is not final and won’t be for some time, requiring both shareholder and regulatory approval in addition to customary closing conditions.
Still, industry partners have a lot of questions as to what to expect from this acquisition. We believe this is a tremendous opportunity to combine resources for innovation that will benefit both consumers and our industry partners and advertisers. Here are just a few things to look forward to:
1. We’ll reach a larger audience because consumers are loyal to both brands.
We expect to maintain both the Zillow and Trulia consumer brands, both of which have large and loyal consumer followings with limited overlap. Though audience may differ, Zillow and Trulia have a shared mission of empowering consumers with vital information about real estate and making connections to the best local professionals.
2. We’ll improve listing infrastructure, including the way we distribute and support listings information.
This deal will allow for better coordination among our brands when it comes to listing information. Industry partners will benefit from deeper partnerships and better listing infrastructure. Home sellers and their agents, participating brokerages, franchisors and MLSs will benefit from seamless, free distribution of listings across even more platforms to reach an even larger audience of consumers.
3. We’ll innovate faster and deliver enhanced ROI for our advertisers.
By combining resources, we expect to accelerate innovation on mobile and Web to provide more valuable tools and services to our advertisers. We expect to offer shared services and marketing platforms for advertisers that enhance agent productivity and marketing and deliver greater return on their investment. Additionally, our advertisers can expect more creative and targeted opportunities across our brands.
4. We’ll achieve cost savings through consolidated operating costs.
By operating independent consumer brands through one corporation, we expect to achieve at least $100 million in annualized cost savings by 2016. Our focus on building great products and services remains unchanged, as does our larger mission to empower consumers with valuable information and connect them to the best real estate professionals. If you have any questions, we’d love to hear from you. Reach out to our team at firstname.lastname@example.org.
Spencer Rascoff is CEO, Zillow. For more information, please visit www.zillow.com.