Zillow seeking to buy rival real-estate website Trulia - Bloomberg
July 24 (Reuters) - U.S. real estate website operator Zillow Inc is seeking to buy rival Trulia Inc, Bloomberg reported, citing people with knowledge of the matter.
Zillow could value Trulia at as much as $2 billion and an agreement may be announced as soon as next week, Bloomberg said. (bloom.bg/1qCMgeD)
Trulia's shares rose by a third to a life-high of $54, while Zilliow's shares jumped 25 percent also to a record high of $157.61.
Zillow and Trulia, the two most visited real estate website in the United States, list properties for sale or rent on behalf of homeowners and agents. They gets most of their revenue from subscriptions from real estate agents.
Zillow and Trulia had more than 85 million unique visitors in June and accounted for 89 percent of all traffic to real estate sites, according to ComScore, Bloomberg said.
Trulia declined to comment and Zillow did not immediately reply to requests for comment. (Reporting by Soham Chatterjee in Bangalore; Editing by Savio D'Souza)
- Protesters stay out on Hong Kong streets, defying Beijing |
- Hong Kong protesters stockpile supplies, fear fresh police advance |
- Stocks head for worst quarter since euro crisis, dollar soars
- China OKs iPhone 6 sale after Apple addresses security concerns
- U.S.-led air strikes pose problem for Assad's moderate foes