July 24 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.
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
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