Primedia Inc.’s Consumer Guides, a publisher and distributor of apartment, new home and auto guides and related Web sites, today announced the acquisition of RentClicks.com, an online search site for small-unit rental properties.
RentClicks.com provides landlords, investors, and property managers with a Web-based tool to advertise rental properties to rental customers. Financial terms were not disclosed. Other Consumer Guides Web sites include ApartmentGuide.com, AutoGuide.com, AmericanHomeGuides.com, Rentals.com, MovingResourceGuide.com and NewHomeGuide.com.
“With this acquisition, the company becomes the leader in the small-unit owner rental market,” Primedia announced. This market segment, which includes rental houses, townhomes, condos and single-unit apartments, accounts for 70 percent of the total rental market.
“These are two very complementary businesses coming together to bring quality and value to consumers and advertisers in the high-growth online marketplace for the residential rental market,” said Jamie Gallo, president of Consumer Guides’ Interactive Division, in a statement.
“The Internet has proven to be a powerful connection point for driving quality leads that result in rentals and RentClicks has built the fastest growing lead-generation site in the housing market. We are excited to bring the RentClicks team on board to help us accelerate our online growth.”
RentClicks’ president and CEO, David Borden, said Primedia’s strength and experience in the apartment industry was a major factor in the decision to sell the company. “We started this business to fill a void in the marketplace. Apartment Guide is the first place people look if they want to rent an apartment, but what if they are looking for a house or condo or small unit to rent? We want RentClicks to be the ‘go-to’ site for these consumers,” Borden said in a statement.
Through the Apartment Guide and ApartmentGuide.com, Primedia generated over 1 million leases for apartment property managers in 2005, according to the announcement.
New Home Guide and NewHomeGuide.com offer consumers comprehensive information about new home communities in 25 regional markets. Its newest division, Auto Guide and AutoGuide.com, offer listings of used cars, SUVs and trucks for sale by auto dealerships in 14 markets throughout California, Georgia, Florida, New England and North Carolina.
With 2004 revenue of $1.1 billion, Primedia’s properties comprise more than 135 brands that connect buyers and sellers through print publications, Web sites, events, newsletters and video programs in three market segments.
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