Industry News

Move Inc. announces plans for site upgrades

New community features will be delayed
Published on Aug 4, 2006

Move Inc. officials, during an earnings presentation Thursday, announced the delay of some technology initiatives that will add community forums and neighborhood information to its property-search sites, including Realtor.com. The relocation of a company data center from California to Phoenix, Ariz., which will cost about $6.5 million, will likely be completed in fourth-quarter 2006 and the enhanced features are on hold until the new data center move is completed, said Mike Long, Move CEO. Move re-branded earlier this year from its former title of Homestore. The company today (NASDAQ:MOVE), reported net income of $1.7 million in the second quarter, compared to net income of $3.3 million in second-quarter 2005. Traffic at the Move.com site, a property-search portal that allows users to search for new homes, existing homes and rentals, has been roughly flat since its launch three months ago, Long said. This may be due, in part, to the ability of search engines to respond to the site, c...

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