Zillow Acquires Buyfolio
Online and Mobile Platform Empowers Collaborative Shopping Between Homebuyers and Their Agents
SEATTLE, Oct. 31, 2012 (GLOBE NEWSWIRE) -- Zillow, Inc. (Nasdaq:Z), the leading real estate information marketplace, today announced it has acquired Buyfolio™, an online and mobile collaborative shopping platform where home shoppers can search, track, organize and discuss for-sale listings with their real estate agent, significant other, or a private group. Buyfolio makes online shopping for a home easier and more organized, giving homebuyers a simple, real-time snapshot of their home search, and allowing the buyer's agent to add local knowledge, notes and additional listings. Zillow® plans to offer Buyfolio's online and mobile products to Zillow Premier Agents and brokerages nationwide. Financial terms were not disclosed.
"This acquisition allows Zillow to expand its suite of software tools for Premier Agents and brokerages, and will help them convert Internet leads into closed sales," said Spencer Rascoff, Zillow CEO. "We're very excited to welcome the Buyfolio team into Zillow."
Buyfolio launched in 2011 and currently is focused on New York City. In addition to the agent and consumer tools, the company also provides a suite of brokerage tools, including a lead capture webpage for brokerage websites, and a lead manager and tracking tool. Buyfolio's mobile apps for Android™ and iOS allow real estate agents and home shoppers to access their folios on the go, with the ability to add, track, organize and discuss homes from anywhere.
"Zillow shares our vision and excitement, and business will carry on as usual for Buyfolio. With Zillow's resources and support, we'll be able grow and innovate more quickly," said Susan Daimler, Buyfolio co-founder. "Both Zillow and Buyfolio are committed to providing technology to agents in a changing real estate landscape, and we are excited to help them succeed in the years to come."
Buyfolio's co-founders, Matt and Susan Daimler, also started SeatGuru.com, an award-winning online airline seating guide, which was acquired by Expedia® in 2007. Both founders will continue working in New York City for Zillow.
Buyfolio is the fourth acquisition by Zillow. In 2011, Zillow acquired Postlets®, a leading online real estate listing creation and distribution platform, and Diverse Solutions®, which helps real estate agents market their businesses and improve their personal websites. In June 2012, the company acquired RentJuice®, the foundation of Zillow Rentals. Each of these companies provides valuable services that support Zillow's strategic expansion beyond a traditional media model to offer a suite of marketing and business services to local professionals.
About Zillow, Inc.
Zillow (Nasdaq:Z) is the leading real estate information marketplace, providing vital information about homes, real estate listings and mortgages through its website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. More than 35 million unique users visited Zillow's websites and mobile applications in September 2012. Zillow, Inc. operates Zillow.com®, Zillow Mortgage Marketplace, Zillow Mobile, Postlets, Diverse Solutions, Zillow Rentals and Buyfolio. The company is headquartered in Seattle.
The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012
Zillow.com, Zillow, Postlets, Diverse Solutions and RentJuice are registered trademarks of Zillow, Inc. Buyfolio is a trademark of Zillow, Inc.
Android is a trademark of Google, Inc.
Expedia is a registered trademark of Expedia, Inc.
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