Move's new secret venture to cost $6 million

Move Inc. officials said Tuesday that they expect a new "transformational" venture -- spearheaded by former Realtor.com president Allan Dalton and outgoing National Association of Realtors chief economist David Lereah -- to cost about $6 million in net expenses and to generate some revenue this year, but offered no specifics about the project.

This effort is scheduled to launch in August and is expected be a new "engine of growth" for the company, said Move CEO Mike Long during a first-quarter earnings announcement. more...

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