Today, we have some exciting news to share, as Trulia is embarking on a new and exciting chapter. We’ve signed an agreement to be acquired by Zillow, which will enable us to accelerate our efforts to revolutionize the home search process for consumers, help professionals build their businesses and create additional value in adjacent markets. I’m excited about the benefits this combination will bring to the consumers, agents, brokers, franchises and data providers we work with every day.
Over the last 10 years, we have successfully built Trulia from the ground up by staying focused on our vision – to fundamentally improve the way that home buyers, sellers, renters and home seekers find a place to live and the way that agents and brokers connect with them to power their businesses. It’s clearly been working and today’s news further validates and invigorates our mission. It is also a reminder that our journey has really just begun.
Zillow will acquire Trulia in a stock-for-stock transaction in which Trulia stockholders will receive shares in the combined company equivalent to 0.444 shares of Zillow for each share of Trulia, and will own approximately 33% of the combined company at closing, on a fully diluted basis. At closing, I will remain as CEO of Trulia reporting to Zillow CEO, Spencer Rascoff, and will join the Board of Directors of the combined company. In addition, a second member of the Trulia board of directors will join the board of the combined company.
Trulia and Zillow will maintain our individual consumer brands and operate as separate companies. The combined company will offer buyers, sellers, homeowners and renters access to vital information about homes and real estate and provide advertising and software solutions that help real estate professionals grow their businesses.
Together, we will create an even stronger organization by bringing together the shared talent, technology and deep industry relationships of Zillow and Trulia. We can align our time, energy and resources into building the best online real estate experience by accelerating innovation on mobile and desktop platforms and providing more valuable tools and services to consumers and professionals. We can also work together and in partnership with the real estate industry to ensure more free data is made available to consumers, which can empower people to make better decisions. With broader and seamless distribution, home sellers, agents, participating brokerages, franchises and MLSs will be able to reach an even larger audience of consumers. Finally, together we can offer shared services and marketing platforms for advertisers to enhance productivity and deliver great return on our customers’ investment with us.
Additional Information about the Proposed Transaction and Where to Find It
I know this announcement may come as a surprise for some of you. Over the years, in this first chapter, as we have participated in the growth of the industry with Zillow, mutual respect grew. We believe that combining with Zillow will allow us to do much more together than apart.
It has never been a more exciting time to be in the real estate industry. Here’s to the next exciting chapter!
Additional Information about the Proposed Transaction and Where to Find It
In connection with the proposed transaction, Zillow and Trulia expect to file a joint proxy statement/prospectus with the SEC, and Zebra Holdco, Inc. expects to file with the SEC a registration statement on Form S-4. INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) REGARDING THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and securityholders will be able to obtain free copies of the registration statement and joint proxy statement/prospectus (if and when they become available) and other documents filed by Zillow and Trulia at the SEC’s website at www.sec.gov. Copies of the documents filed by Zillow with the SEC will be available free of charge on Zillow’s website at www.zillow.com or by contacting Zillow Investor Relations at (206) 470-7137. Copies of the documents filed by Trulia with the SEC will be available free of charge on Trulia’s website at www.trulia.com or by contacting Trulia Investor Relations at (415) 400-7238.
Certain Information Regarding Participants
The respective directors and executive officers of Zillow and Trulia and other persons may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. You can find information about Zillow’s executive officers and directors in Zillow’s definitive proxy statement filed with the SEC on April 17, 2014. You can find information about Trulia’s executive officers and directors in Trulia’s definitive proxy statement filed with the SEC on April 22, 2014. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC (if and when they become available). These documents can be obtained free of charge from Zillow or Trulia using the sources indicated above.0 comments
Trulia has been laser-focused on delivering the real estate industry’s simplest, most helpful mobile products. And today, we’re excited to announce that we’ll be launching a new mobile real estate app for Android Wear once it’s available in the coming weeks. Earlier today, Trulia’s app was highlighted at Google I/O 2014, the annual developer conference featuring highly technical, in-depth sessions, and showcasing the latest from Google’s product teams and partners.
At Trulia, we are defining the future of home search by leveraging the latest technologies to deliver a simpler and more enjoyable experience for home seekers. With more than 19.0 million monthly unique mobile visitors on Trulia already as of March of this year, the number of people who search for homes on their mobile devices will only continue to grow. We have no doubt that as wearable tech becomes more prevalent, these devices will become key house hunting tools given how important location and context is in the search for a home.
Key Details of Trulia’s Android Wear App:
Earlier this year, Trulia released two major upgrades to Trulia’s top-rated real estate app for the iPhone and Android phones earlier this year. In February, Trulia redesigned its app to make it as immersive and visual as being at an open house, including full-bleed property images, easy-to-navigate photo galleries, and beautiful heat maps to visualize important neighborhood details such as crime, schools, and home prices. In May, Trulia launched Nearby Home Alerts, a one-of-a-kind feature that instantly alerts buyers and renters to new homes for sale. Every time a user is within a certain radius of a new home that’s been listed in the last 24 hours, this fully customizable push alert sends them all the details.
This announcement also follows the release of Trulia’s real estate app for Amazon Fire phone last week and the development of a Trulia app for Google Glass in 2013. With Trulia’s Fire app, home seekers can instantly search for homes, and get the full picture of a home and neighborhood with hi-res property photo galleries and detailed heatmaps with essential info like crime and school ratings.
To learn more about Trulia’s current suite of mobile apps, visit www.trulia.com/mobile0 comments
In today’s competitive real estate market it’s crucial to be the first to know about new homes and apartments as soon as they come on the market. That’s why Trulia is now providing instant alerts of newly listed homes near your current location.
The nearby home alerts feature is available on both the iPhone and Android versions of the Trulia app, and will alert you of any new homes — either rentals or homes for sale, the choice is yours—listed in the last 24 hours. Because it is the only real estate app to offer this kind of functionality, it truly can help you stay ahead of the game.
With fully customizable settings, you can control your search radius, price range, and how often you want to be alerted. So whether you want to search within walking distance of work, or a few minutes drive from school, Trulia will keep you up to date and get you one step closer to finding your perfect place.
We know that coming up with a down payment is a big obstacle when it comes to getting your dream home. That’s why we are excited to announce our new contest where one lucky person can win $50,000 to use toward a down payment to their dream home – or any other home expense they choose. Now, getting “the one” is closer than you think! The contest opens today and runs through July 1, 2014 so you need to act fast.
It’s easy to enter. Just go to win.trulia.com and provide your first and last name along with your email address. If you want to enter more than once – you are in luck because we are giving you bonus entries. Just download our free, top-rated mobile apps and instantly find homes near you.
What are you waiting for? Enter now to get that dream home!0 comments
Today we are launching our first National Marketing Campaign, “Moment of Trulia” and we couldn’t be more excited. The $45M multi-media campaign will run across TV, radio, online, outdoor and mobile with the goal of engaging serious home buyers and sellers and getting them to download the Trulia app.
So what is a Moment of Trulia? A Moment of Trulia is that moment when Trulia helps you answer any one of the millions of questions that come up when you are trying to buy a house. By being your ally, Trulia turns confusion to clarity and helps smooth out the bumps in the home buying road.
The campaign kicks off with the TV ad “Look“, showing one couple’s journey to find a home – the highs and lows – and how Trulia creates clarity every step of the way. Each moment of clarity is a “Moment of Trulia” for the couple.
When we were making the TV ads we really wanted to take an authentic, documentary style approach, demonstrating that we know what its really like to buy a home – it’s a roller coaster. By demonstrating our understanding and showing how Trulia helps, we believe that we will not only drive downloads, but also build a trusted brand. The ad feels like you are overhearing the couple’s conversation, observing their process – we worked with the director, Randy Krallman, to maintain that feeling through the filming of the ads as well as the editing process.
In addition to TV, we will also be launching an online radio ad and web and mobile advertising, all with the goal of driving mobile downloads.
The campaign is the culmination of many months of hardwork by the Trulia team and our partner agencies, FCB San Francisco and Initiative Media and I want to thank each and everyone for being part of this Moment of Trulia.0 comments
Just in time for spring selling season, today Trulia launched redesigned search results pages and property display pages that provide a richer experience for consumers interested in newly constructed homes. As the housing market continues its long, gradual recovery, new home construction has been lagging, along with new household formation, while other areas such as home prices have been picking up.
However there are some encouraging signs for the home building sector, including some new data from the Commerce Department that indicates new home sales rose 9.6% in January to a seasonally adjusted annual rate of 468,000 homes.
While the sector begins to pick up momentum, Trulia has been investing in building a better experience for home buyers looking for new construction, which provides new opportunities for Trulia’s home builder marketing partners to connect with Trulia’s valuable audience.
The new tools allow consumers to search new homes better with new home communities clearly identifiable and presented in a way that matches how consumers look for new homes.
Once people click through to the new property display pages, community amenities and home design choices are easy to see and organized in one place, along with a complete overview of that particular new construction community.
A particularly useful new feature, allows home buyers to see all the different home designs available in a given community. This often includes some models that have been completed and others that are scheduled for construction. Trulia provides rich computer images to help illustrate these homes.
Home buyers interested in learning more about specific communities by speaking with a professional can easily contact the home builders by clicking on the clearly identifiable orange button and lead form located on the top right hand side of the page.0 comments
We’ve all been there: you scan your phone throughout the weekend looking for open houses, only to be disappointed when you actually drive through one of the neighborhoods (this part of town doesn’t seem too safe) or notice that the home you’re in doesn’t quite look like the one you saw online or on your mobile app (the bedrooms are so small!). You aren’t alone. It’s a common problem that we at Trulia wanted to help solve. And that’s why we’re excited to announce the redesign of our iPhone and Android apps, just in time for the spring house hunting season.
According to NAR, the real estate information buyers find on their mobile devices is now just as important as visiting an actual open house. With the newly redesigned iPhone and Android apps, house hunters can get some of their Sundays back. Instead of schlepping through a slew of open homes that may or may not actually help with their search, home buyers will now get must-see properties – the best of the best – which means less time driving around in a car and more time working on an offer.
We believe our apps are now so visual and immersive; it’s almost like being at the open house without even leaving your couch. Everything you want and need for your house hunt is in one place:
This morning, Trulia announced a new tool for software developers interested in building applications for the real estate industry, thanks to a multi-month project to build open source code and spur innovation.
Trulia Java RETS Client, is open source software that makes the accurate and timely exchange of data easier for the real estate industry.
The software promotes industry innovation because it allows developers to more easily parse data to build real estate applications using information licensed from Multiple Listing Services (MLSs). After six months of development, the software is now available for download on the Real Estate Standards Organization (RESO) website.
RESO is an organization that promotes data standards and processes through the Real Estate Transaction Standard (RETS), which allows many different real estate systems to connect and exchange real estate information including home listings, and make them available online.
As a member of the organization and the board, Trulia is aligned with RESO’s goal to provide an environment that facilitates innovation and builds efficiencies for all parties participating in the real estate transaction.
The new software is intended to jump-start software development for applications that access real estate listing data, such as mobile or tablet apps. Traditionally, developers have had to custom build the technology to access this data, which is time consuming and can be expensive.
Trulia’s Java RETS Client was configured to be flexible and has been tested with all major technology vendors. Trulia is committed to updating its open-source software to work with all MLSs and 3rd party providers, and non-compliant RETS feeds.
Trulia has a long history of contributing time and resources to open source communities across many disciplines representing the breadth of engineering expertise at the company, including iOS software development, geospatial technology, and data visualization. The Trulia Java RETS Client software and many other useful tools that promote high quality real estate data are available on RESO.
Trulia Java RETS Client was forked from jRETS and supports all of that functionality with the addition of being compliant up to version 1.7.2 of the RETS specification.0 comments
Beginning today, real estate agents and brokers will have the chance to purchase Trulia Seller Ads (TSA), the first product from Trulia created specifically to generate valuable leads from home sellers. This new offering boosts agents’ seller leads by targeting consumers thinking about selling their homes. This is especially important today, as low inventory remains a challenge in many markets around the U.S.
How Does It Work?
Trulia created a new seller portal for consumers who are interested in understanding the value of their home. After providing some basic property information, the home owner receives a free home estimate report that includes price history and comparable homes sold.
Home owner landing page
The report is intended to be a consumer’s first step in understanding their home’s value and introduces them to local agents who can provide more personalized estimates, based on local market conditions and unique home features. The recommended agents are featured in the report with contact information, brokerage name, and their Trulia profile photos to help them establish their brands with sellers. The agent receives a lead notification and can then follow-up to provide a professional list price estimate in person and establish a relationship with the homeowner.
Free home value report
To develop the product, the Market Leader team shared what it has learned from a successful track record generating seller leads with similar products over the years.
The teams also worked together to make sure that agents can view, manage, and convert leads from Trulia Seller Ads in the popular Market Leader Pro software. Combined, Trulia and Market leader have one of the largest groups of agent subscribers in the online real estate industry, totaling approximately 56,000 at the end of the third quarter of 2013.0 comments