Move Inc. losses grow in 2008 operator cut costs, product development

Don't miss Hacker Connect SF
Dive into the latest Technology affecting RE, July 17, 2018 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.