Zillow, Inc. has announced
an agreement to acquire StreetEasy
, which it says is the leading real estate website in New York City. Zillow will pay $50 million in cash for the website, which gets 1.2 million monthly unique visitors. StreetEasy first debuted in 2006. It provides for-sale and for-rent listings through partnerships with all of the largest real estate brokerages in New York.
Zillow CEO Spencer Rascoff, said in a statement, "StreetEasy is an excellent strategic fit with Zillow, as we share a common goal: To help consumers become smarter about real estate by communicating comprehensive, unbiased information about apartments and homes. StreetEasy is an incredibly strong and recognized brand in New York City, and complements Zillow's dominant and growing national brand. We're delighted to welcome the enormously talented and knowledgeable StreetEasy team on board."