Real estate information portal Zillow Inc. says it hopes to propel its rental marketplace "ahead by years" by acquiring rental relationship management software provider RentJuice Corp. for $40 million.

Zillow said the acquisition will allow it to offer a suite of tools and services for rental professionals to help them market their inventory to renters and manage client relationships.

San Francisco-based RentJuice offers subscription-based marketing and productivity tools, including a customer relationship management (CRM) platform for managing leads and relationships, rental listings management software and syndication, consumer credit screening, and secure online rental application management.

"Zillow has spent the last six years building robust marketplaces for real estate and mortgages, and we are in the midst of growing our rental marketplace, which has tremendous potential," Zillow CEO Spencer Rascoff said in a statement.

Zillow launched its rental search capabilities in December 2009.

RentJuice CEO David Vivero said becoming part of Zillow will allow the company, which was launched in 2009 and now employs 31, to "invest more and innovate faster on behalf of the leasing professionals we support."

In a regulatory filing, Zillow said RentJuice stockholders who collectively hold sufficient shares to approve the merger have agreed to vote for it.

If the deal closes during the second quarter, as expected, RentJuice would be Zllow’s third acquisition to date.

Last year Zillow acquired listing syndicator Postlets in April, followed by the purchase of real estate website technology provider Diverse Solutions for $7.8 million.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription