Zillow Acquires Diverse Solutions to Help Agents Grow Business and Online Presence
SEATTLE — Nov. 2, 2011 – Zillow, Inc. (NASDAQ: Z), the leading real estate information marketplace, today announced it has acquired substantially all the assets of Diverse Solutions™, an Irvine, Calif.-based company that helps real estate agents market their businesses and improve their personal websites, for approximately $7.8 million in cash and stock. Diverse Solutions’ software services include providing listings content and property search functionality for the Web and mobile platforms. With this acquisition, Zillow® adds another key set of tools to help agents grow their businesses and enhance their online presence.
Founded in 2005, Diverse Solutions has more than 6,000 unique customers, consisting primarily of local real estate agents, and 18 employees. Diverse Solutions will continue to operate its branded services for its customers. Diverse Solutions founder and CEO Justin LaJoie has assumed the position of vice president of industry solutions at Zillow and will report to Spencer Rascoff, Zillow CEO.
“We’re very impressed by the products and team that Diverse Solutions has assembled, and we look forward to offering agents these new solutions for powering their websites and marketing strategies,” said Rascoff. “With this acquisition, Zillow now can offer agents a broad suite of valuable tools to market themselves across the Web and mobile – whether on their own websites via Diverse Solutions, on Zillow, or across multiple sites via our listings distribution service, Postlets.”
“We are thrilled to join Zillow, and excited for the opportunity to introduce Diverse Solutions’ suite of services to millions of real estate agents who use Zillow every month,” said LaJoie.
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 24.6 million unique users visited Zillow's websites and mobile applications in October 2011. Zillow, Inc. operates Zillow.com®, Zillow Mortgage Marketplace, Zillow Mobile, Postlets and Diverse Solutions. The company is headquartered in Seattle.
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Zillow.com, Zillow and Postlets are registered trademarks of Zillow, Inc. Diverse Solutions is a trademark of Zillow, Inc.