Hacker Connect January 16 in New York
An event for and by the real estate tech community

Realtor.com operator Move Inc. says the company's losses ballooned from $4 million in 2007 to $32.7 million in 2008, despite having slashed $20 million in annual operating expenses by year's end. At $242 million, revenue for the year was down 3 percent from 2007. The company saw a sharper 8.2 percent year-over-year drop in revenue during the last three months of 2008, to $57.5 million, that was driven by fewer new-home listings and fewer display ads. The $3.2 million loss for the quarter was an improvement from the last three months of 2007, when Move lost $5.3 million. Driving the increased losses for 2008 as a whole was a $27.2 million loss on discontinued operations, including Move's Welcome Wagon business, the company said. Move acquired Welcome Wagon, a lead-generation si...