Zillow announced today that it’s entered into a definitive agreement to acquire its chief competitor Trulia for $3.5 billion in stock.
The companies will maintain their separate brands, with Trulia CEO Pete Flint staying on board and reporting to Zillow CEO Spencer Rascoff. Although the deal has been approved by both companies’ boards of directors, it’s not expected to close until sometime next year. When the deal closes, Flint and another Trulia director will join the combined company’s board of directors. Read More