When Zillow Group acquired dotloop, a real estate transaction software company, in late 2015, industry insiders wondered what the next big move would be. Would the real estate behemoth keep its eyes out for another dotloop, or would it turn its sights elsewhere in the industry?Today we have an answer: Zillow Group announced that it acquired Bridge Interactive, a company that creates brokerage and MLS back-office software."Bridge Interactive helps brokers and MLSs address the complex world of listings management by implementing systems based on open standards from the Real Estate Standards Organization (RESO)," reads a press release sent by Zillow Group.Zillow Group and Bridge did not disclose terms of the agreement.Pace DavisAccording to Bridge, the company services a few more than 30 MLSs. MLSs have been the company's "main focus," said Pace Davis, the co-founder and CEO of Bridge, who says that the company assists "probably 10 of the largest MLSs in the country,...
- Bridge Interactive creates back-end software for MLSs and brokerages.
- The terms of the deal were not disclosed.
- "The data will continue to be the customers' data," Errol Samuelson, chief industry development officer at Zillow, told Inman.