4 ms·

Zillow buys NYC real estate site StreetEasy for $50M

47 points by leknarf 13y ago

rayiner 13y ago
As an aside, if you ever want go rage hard enough to want to punch someone in the face, get on street easy and go to the forum posts by brokers.
- mathattack 13y ago
  They're the only folks in NYC with a worse reputation than investment bankers, Patriots fans, and the teachers union.
- fatjokes 13y ago
  Brokers give me the same greasy vibe as finance head-hunters and used car salesmen.
- malandrew 13y ago
  Can you give some examples or links to particularly memorable posts?
deleted 13y ago
[deleted]
JonFish85 13y ago
"While Zillow’s press release doesn’t say how the acquisition will be structured, it looks like the company plans to leave StreetEasy alone." Ah, that's rich. It's true until A) there's any sort of disagreement or B) StreetEasy doesn't hit whatever revenue targets that Zillow sets for them. Might be weeks, might be months, might even be years. But there is no world in which Zillow owns StreetEasy but doesn't impose any changes on them.
- clauretano 13y ago
  I generally read "plans to leave [acquired company] alone" as saying the acquirer isn't killing off the products of the company they bought. Of course, with any acquisition, changes happen eventually. This isn't like Yahoo buying a company for patents or talent and quickly shuttering the product, or HP/Oracle buying a company and killing it under the burden of largecorp bureaucracy. We're talking about a pretty small company, buying another startup. See also: http://hotpads.com http://hotpads.com, http://agentfolio.com http://agentfolio.com, http://mortech.com http://mortech.com which were all acquired within the last year by Zillow. a few "a Zillow business" logos here and there, but if you were a customer of those companies before the acquisition, you would probably say Zillow has left them alone. disclosure: i have no insider info
nabraham 13y ago
Streeteasy has a terrific brand in nyc. Given that they have 1.2m monthly uniques and 7M in revenue, I'm surprised that the acquisition will not have an impact on zillow revenue projections. Guess if you do $200m in yearly revenue, an extra $7m is only a ~5% bump.
- rhizome 13y ago
  Don't forget the competitive advantages gained.
- jwt 13y ago
  Where did you see the 7m revenue figure -- source?

47 points by leknarf 13y ago

As an aside, if you ever want go rage hard enough to want to punch someone in the face, get on street easy and go to the forum posts by brokers.

mathattack 13y ago
They're the only folks in NYC with a worse reputation than investment bankers, Patriots fans, and the teachers union.
fatjokes 13y ago
Brokers give me the same greasy vibe as finance head-hunters and used car salesmen.
malandrew 13y ago
Can you give some examples or links to particularly memorable posts?

deleted 13y ago

[deleted]

JonFish85 13y ago

"While Zillow’s press release doesn’t say how the acquisition will be structured, it looks like the company plans to leave StreetEasy alone." Ah, that's rich. It's true until A) there's any sort of disagreement or B) StreetEasy doesn't hit whatever revenue targets that Zillow sets for them. Might be weeks, might be months, might even be years. But there is no world in which Zillow owns StreetEasy but doesn't impose any changes on them.

clauretano 13y ago
I generally read "plans to leave [acquired company] alone" as saying the acquirer isn't killing off the products of the company they bought. Of course, with any acquisition, changes happen eventually. This isn't like Yahoo buying a company for patents or talent and quickly shuttering the product, or HP/Oracle buying a company and killing it under the burden of largecorp bureaucracy. We're talking about a pretty small company, buying another startup. See also: http://hotpads.com http://hotpads.com, http://agentfolio.com http://agentfolio.com, http://mortech.com http://mortech.com which were all acquired within the last year by Zillow. a few "a Zillow business" logos here and there, but if you were a customer of those companies before the acquisition, you would probably say Zillow has left them alone. disclosure: i have no insider info

nabraham 13y ago

Streeteasy has a terrific brand in nyc. Given that they have 1.2m monthly uniques and 7M in revenue, I'm surprised that the acquisition will not have an impact on zillow revenue projections. Guess if you do $200m in yearly revenue, an extra $7m is only a ~5% bump.

rhizome 13y ago
Don't forget the competitive advantages gained.
jwt 13y ago
Where did you see the 7m revenue figure -- source?