NYT: The online real estate listing website will purchase its competition, Trulia, for about $3.5 billion in stock.
NYT: The online real estate listing website will purchase its competition, Trulia, for about $3.5 billion in stock.
Under the terms of the deal, Zillow will pay 0.444 of one of its shares for each share in Trulia. Based on Friday’s closing prices, the takeover bid is worth $70.53 a Trulia share, a premium of roughly 25 percent.
Together, the two will dominate the traffic for online home listings. Last month, Zillow reported 83 million users across both web and mobile Internet use, while Trulia reported 54 million – a combined 61 percent of total Internet users for the category, according to comScore.
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