In a bid to expand its coverage in New York, Zillow has entered into a definitive agreement to acquire listing site StreetEasy, Zillow announced today. Zillow will pay $50 million under the terms of the merger agreement. The merger is expected to close in the next few weeks and is still subject to the satisfaction of customary closing conditions, according to Zillow. The company also announced today that it intends to offer an additional 2.5 million shares of Class A common stock, priced at $82 per share. The company said it would use the cash for "general corporate purposes," but also potentially "for the acquisition of, or investment in, technologies, solutions or businesses that complement its business." Several hours after news of the acquisition broke, Zillow's stock was $8...
Aug 13, 2013 by Paul Hagey
MLS & Associations
Aug 7, 2013 by Andrea V. Brambila