Zillow Buys Hot Pads for Cool 16 Million Cash

Zillow just announced that it has acquired HotPads, the San Francisco-based rental and real estate search site for $16 million in cash. 

 

According to the Tech Crunch article, Zillow plans to create one single database for rentals that will be available on Zillow, HotPads and the company’s other properties. HotPads, will continue to exist as its own brand and Zillow will commit additional engineering resources to help the company grow.

 

Between Zillow Rentals and HotPads, Zillow CEO Spencer Rascoff  expects the company can now offer a rental marketplace at scale – something that wasn’t previously available to users in the highly fragmented rental market. For Zillow, this is also an opportunity to build a relationship with a younger audience – the kind that’s shopping for a first rental but not ready to buy yet. Once they get to the point where they are looking to buy, they will hopefully come back to the Zillow brand.

 

What does this mean to Showcase Property Management? I believe Zillow and HotPads will provide our rentals even greater exposure in a rental market that just keeps expanding. Our investors rely on us to quickly place tenants in vacant properties. The more exposure we have the great chances we have of finding qualified tenants. 

Visit RentWithKaren.com to search for rentals in Brevard County, FL

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