Zillow Acquires HotPads for $16 Million in Cash
Wow, the Zillow M&A department ha been busy. Today, they announced the acquisition of HotPads — for $16 million in cash. Zillow has purchased Buyfolio, Mortech, and RentJuice within the past year. The acquisition of HotPads gives them another 2.8 million uniques per month, most of whom are renters, that they can use to generate leads for landlords in the Zillow Rentals program.
I’ve known a few members of the HotPads team since 2006 or 2007, and it’s great to see all their hard work result in an exit to a great organization.
Who’s next on the acquisition front? Altos? WiseAgent? Walk Score? Other guesses?
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Spencer Rascoff
Posted at 20:11h, 26 NovemberThanks Drew. Hotpads is a great company and we’re psyched to welcome them to Zillow.
Sam DeBord, SeattleHome.com
Posted at 07:48h, 27 NovemberI’ve always thought Walkscore would be a great acquisition. I wonder if they’d be hesitant to be part of a larger brand since they’re already used by so many competing sites as an add-on. If it was integrated into a service that Zillow offered to other websites, it could still hold some of that value.