According to a report in Techcrunch, 0nline real estate stock Zillow (NASDAQ:Z) is rumored to be buying RentJuice for roughly $45 million. The company, which is privately held, helps to manage the complex rental process.
The deal should be a good move for Zillow, which has a focus on house purchases. After all, the rental market has been particularly strong because of the slow economy and the continued problem with foreclosures.
Interestingly enough, Zillow also purchased Postlets — a marketplace for rentals — about a year ago. This should be a good platform to get distribution for RentJuice.
Zillow came public last year, raising $70 million. While the stock has been volatile, it has had a strong year so far, up almost 70%.
– Tom Taulli, InvestorPlace