New Real Estate Behemoth: Zillow Buys Trulia for $3.5B

All-stock deal may drastically affect real estate agents' livelihood
By Jenn Gidman,  Newser Staff
Posted Jul 28, 2014 9:39 AM CDT
Real Estate Giant Zillow Snatches Up Trulia for $3.5B
Zillow has purchased Trulia in a $3.5 billion all-stock deal.   (Shutterstock)

Apparently, we're starting the workweek with competitors eating each other for breakfast. First Dollar Tree announced it would be buying rival Family Dollar, and now real estate heavyweight Zillow is snatching up competitor Trulia for a hefty $3.5 billion, reports the AP. The all-stock deal will result in a behemoth online real estate company that will retain both brands, with Trulia CEO Pete Flint reporting directly to Zillow CEO Spencer Rascoff. One group likely to be less than thrilled: real estate agents and multiple-listings services that used to have a stranglehold on much-coveted real estate info, reports the Wall Street Journal. The sale is expected to be finalized in 2015 after shareholder approval and an antitrust waiting period, according to Yahoo Finance. (More Zillow stories.)

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