Editor’s note: This story has been corrected to note that an offering of Zillow shares that closed Sept. 24 was a follow-on offering dilutive to existing shareholders, not a secondary offering of previously issued shares.
Real estate information marketplace Zillow continues to expand its offerings through acquisitions, picking up Buyfolio, a collaborative shopping platform where homebuyers search, track, organize and discuss for-sale listings with their real estate agent, or private group.
Zillow said it plans to offer Buyfolio’s online and mobile products to its paying "Premier Agent" subscribers and brokerages nationwide.
"This acquisition allows Zillow to expand its suite of software tools for Premier Agents and brokerages, and will help them convert Internet leads into closed sales," said Zillow CEO Spencer Rascoff in a statement.
Launched in 2011, when it was a finalist for an Inman Innovator Award, Buyfolio is currently focused on New York City. Co-founders Matt and Susan Daimler will continue working in New York City for Zillow. The team also started SeatGuru.com, an airline seating guide acquired by Expedia in 2007.
"Zillow shares our vision and excitement, and business will carry on as usual for Buyfolio," Susan Daimler said in a statement. "With Zillow’s resources and support, we’ll be able grow and innovate more quickly."
In addition to agent and consumer tools, Buyfolio provides a suite of brokerage tools, including a lead capture webpage for brokerage websites, and a lead manager and tracking tool
Buyfolio is Zillow’s fourth acquisition in 18 months. In May, the popular real estate portal announced it was acquiring rental relationship management software provider RentJuice Corp. for $40 million.
Last November, Zillow paid $7.8 million for Diverse Solutions, a company that provides listings content and powers property searches for real estate agents’ websites and mobile platforms. That purchase came on the heels of the acquisition of listing syndicator Postlets in April, 2011.
Zillow is flush with cash, having raised $156.7 million after expenses in a follow-on offering that closed Sept. 24.
In a regulatory filing detailing the offering, the company said it would have "broad discretion" in spending the funds, and might use a portion of the proceeds "for the acquisition of, or investment in, technologies, solutions or businesses" that complement Zillow’s business.
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