Zillow has made another acquisition, purchasing the online home shopping platform Buyfolio. Terms of the deal were not disclosed.
Buyfolio’s service allows home shoppers to share listings with specified collaborators — perhaps a family member, spouse or real estate agent. It also allows those collaborators to discuss the listings, eliminating what the company calls “clunky and hard to track email threads.”
“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,” said CEO Spencer Rascoff in a release.
The Buyfolio site launched last year, and currently is focused on New York City. More than 2,000 agents have signed up in New York, and more than 20,000 “folios” have been created. The company was founded by Matt and Susan Daimler, who previously started SeatGuru.com. That site was acquired by Expedia in 2007. They plan to join Zillow as part of the deal.
The acquisition follows purchases by Zillow of RentJuice, Postlets and Diverse Solutions. Those deals have pushed Zillow deeper into offering online marketing tools to real estate agents.
And Zillow continues to have plenty of currency to work with to make other buys. It has a market value of $1.09 billion, and earlier this year raised an additional $147 million in a public offering.
In other news today, Zillow said that it released a new iPad app for its Zillow Mortgage Marketplace.