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Zillow buying StreetEasy for $50 million
Zillow is buying the New York City-focused online real estate company StreetEasy for $50 million to strengthen its foothold in on one of the country's most lucrative markets. StreetEasy, founded in 2006, ...
NEW YORK (AP) -- Zillow is buying the New York City-focused online real estate company StreetEasy for $50 million to strengthen its foothold in on one of the country's most lucrative marketsStreetEasy, founded in 2006, offers sales and rental listings through partnerships with New York real estate firmsIt also provides information about condominiums, co-ops, new developments and luxury real estate"StreetEasy is an incredibly strong and recognized brand in New York City, and complements Zillow's dominant and growing national brand," Zillow CEO Spencer Rascoff said in a statementThe buyout is expected to close in the next few weeksZillow also announced on Monday a public offering of 2.5 million sharesCertain shareholders are offering an additional 2.5 million sharesThe company won't receive any proceeds from the the selling stockholdersZillow Incplans to give the underwriters a 30-day option to buy up to an additional 753,522 sharesEarlier this month Zillow reported second-quarter adjusted earnings and revenue that topped analyst expectationsFinanceInvestment & Company InformationZillow
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