April 26, 2024 5:26 am
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In Zillow-Trulia Deal, Making Room for Brokers

Zillow

Zillow to Issue $3.5 Billion in Stock in Merger of Online Sites

by Joe Light | Wall Street Journal

Zillow
Screenshot from Zillow mobile app

Zillow Inc. and Trulia Inc., the two online real-estate giants that announced plans to merge Monday, have a message for real-estate agents that have grown increasingly concerned about their market clout: We’re partners, not competitors.

Zillow, the most-trafficked real-estate website, agreed to buy Trulia, the No. 2 company, hoping to create a market behemoth that will dominate listings of homes for sale and other information that buyers and sellers covet.

At Zillow’s closing share price of $160.32, the company would issue about $3.5 billion in stock in the deal, which is expected to close in 2015, and value Trulia at just over $71 per share.

The concern of real-estate agents is understandable. The founders of Zillow came from Expedia about one decade ago where they eliminated the need for travel agents in booking many trips.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.