Trulia (NYSE: TRLA), announced today that it completed the acquisition of Market Leader, combining Trulia’s vibrant marketplace for consumers and real estate professionals with the most comprehensive operating system for the real estate industry. The acquisition was previously announced on May 8, 2013.
Trulia now offers agents and brokers innovative end-to-end marketing solutions to engage with a transaction-ready audience and the leading platform to successfully cultivate relationships with consumers and convert prospects into clients.
Trulia paid approximately $170 million in cash and issued approximately 5.3 million shares of common stock in connection with the acquisition.
“We are very excited that the deal is official and we can now provide the real estate industry with the finest marketing and software tools, all under one roof,” said Pete Flint, Trulia co-founder and CEO. “We are now well positioned to be the leader in our sector, with a combined premium subscriber base of approximately 50,000 professionals. We plan to further penetrate the enormous market opportunity that lies before us and drive incremental opportunities to grow revenues.”
“Over the past 14 years Market Leader has helped tens of thousands of real estate professionals grow their businesses and achieve new levels of success in their real estate careers,” said Ian Morris CEO of Market Leader. “Our entire team is energized by the great value and new innovations that we will be delivering to our customers in the months and years ahead.”
Trulia will operate Market Leader as a wholly owned subsidiary and the combined company will trade on the New York Stock Exchange under the stock ticker TRLA. Market Leader has requested that NASDAQ suspend trading of its common stock prior to the open of trading on Wednesday, August 21, 2013.
ABOUT TRULIA, INC.
Trulia (NYSE: TRLA) gives home buyers, sellers, owners, and renters the inside scoop on properties, places, and real estate professionals. Trulia has unique info on the areas people want to live that can't be found anywhere else: users can learn about agents, neighborhoods, schools, crime, commute times, and even ask the local community questions. Real estate professionals use Trulia to connect with millions of transaction-ready buyers and sellers each month via our hyperlocal advertising services, social recommendations, and top-rated mobile real estate apps. Trulia’s Market Leader subsidiary, delivers the leading end-to-end technology and marketing solutions that enable real estate professionals to grow and manage their businesses. Trulia is headquartered in downtown San Francisco. Trulia is a registered trademark of Trulia, Inc.
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