Real Estate Listing Zillow Buys Rival Trulia

Real estate listings website Zillow will buy its biggest competitor Trulia for a whopping $3.5 billion in stock in a deal that looks set to transform the future of online house hunting. Together, the rivals, which have been locked in fierce combat for nearly nine years, have a total 137 million web and mobile internet visitors. The deal, which has already been approved by the boards of directors for both companies, is slated to close in 2015. “Both companies have been enormously successful in creating compelling consumer brands and deep industry partnerships, but it’s still early days in the world of real estate advertising on mobile and web,” said Zillow CEO Spencer Rascoff in a statement. “This is a tremendous opportunity to combine our resources and achieve even more impressive innovation that will benefit consumers and the real estate industry.”

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