Buying the Neighbors

摘要

Zillow will buy rival Trulia for $3.5 billion in stock, creating the largest player in online real estate listings. The price represents a 25 percent premium over Trulia's recent market value. Neither company is profitable, but they promise to cut $100 million in collective expenses. Shares of both jumped on the news. Real estate brokers, meanwhile, are worried the cost of advertising listings will rise.