Real estate listing website Zillow has purchased Buyfolio, it was announced Wednesday.
While financial terms of the deal were not disclosed, Seattle-based Zillow says that it plans to offer Buyfolio's online and mobile products to Zillow Premier Agents and brokerages nationwide.
"This acquisition allows Zillow to expand its suite of software tools for Premier Agents and brokerages, and will help them convert Internet leads into closed sales," Spencer Rascoff, CEO of Zillow, said in statement. "We're very excited to welcome the Buyfolio team into Zillow.".
“Zillow shares our vision and excitement, and business will carry on as usual for Buyfolio, but with Zillow’s resources and support, we’ll be able grow and innovate more quickly,” Buyfolio wrote in a blog post.
Buyfolio is an online and mobile collaborative shopping platform where home shoppers can search, track, organize and discuss for-sale listings with their real estate agent, significant other, or a private group.
The site aims to make shopping online for a home easier and more organized, by giving homebuyers a simple, real-time snapshot of their home search. It allows the buyer's agent to add local knowledge, notes and additional listings.
Buyfolio already has over 2,000 agents signed up. Consumers and agents have created more than 20,000 portfolios on the site.
In addition to the agent and consumer tools, the company also provides a suite of brokerage tools, including a lead capture webpage for brokerage websites, and a lead manager and tracking tool. Buyfolio also have a mobile apps available on both Android and iOS.
“As we’ve worked towards our goal, we’ve had the privilege of collaborating with many forward-thinking agents and brokerages. Their willingness to discuss challenges and try new solutions has helped shape Buyfolio’s platform and mobile apps. They both understand, and they are, the future of real estate. We are grateful for their support and invaluable input,” Buyfolio wrote.
New York City-based Buyfolio launched in 2011 by Matt and Susan Daimler, who also created SeatGuru.com, an online airline seating guide which they sold to Expedia in 2007.
This is Zillow's fourth acquisition. In 2011, Zillow purchased Postlets, an online real estate listing creation and distribution platform, and they also bought Diverse Solutions, a site designed to help real estate agents market their businesses and improve their personal websites.
Zillow acquired RentJuice in June 2012, which it then used the foundation for Zillow Rentals.
In September, Zillow had over 35 million unique users visitor in its website and apps, which include Zillow Mortgage Marketplace, Zillow Mobile, and Diverse Solutions.
Zillow made its public debut in July 2011 at $20 a share, and saw its stock triple to $60 right out of the gate, and then fall back to end the day at $35.77. It ended trading Wednesday up .38%, at $37.36 a share.
(Image source: http://blog.buyfolio.com)