Move Inc. losses grow in 2008

Realtor.com operator cut costs, product development

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Dive into the latest Technology affecting RE, July 17, 2018

Realtor.com operator Move Inc. says 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, although 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.