Zillow heads to the Hamptons, buys another NY site

30 Jan 2017

Zillow is continuing its New York buying spree.  In addition to StreetEasy, Naked Apartments and HotPads, the Seattle-based real estate giant is now heading to the countryside. It has acquired Long Island real estate portal Hamptons Real Estate Online (HREO.com).

Terms of the deal were not disclosed, but it includes HREO’s RealNet and Open RealNet Exchange software for listing management and distribution.

StreetEasy general manager Susan Daimler said in a statement that bringing the “Hamptons and NYC [together is] a natural pairing.”

Zillow bought StreetEasy in 2013 for $50 million. It picked up HotPads a year earlier for $16 million. The Naked Apartments acquisition was this time last year and carried a price of $13 million in cash.

All told, and not just in New York, Zillow has acquired some 13 companies, the largest of course was Trulia, which it bought in 2015 for $2.5 billion.

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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.