TechCrunch

Zillow just announced that it has acquired the San Francisco-based rental and real estate search site HotPads for $16 million in cash. The deal is expected to close in the fourth quarter of 2012. This acquisition marks the first time that Zillow has acquired a primarily consumer-facing company and Zillow says it is making this acquisition to “expand the size of its growing rental audience and extend the reach of its marketing tools and productivity solutions for rental professionals.”

HotPads has been around for a while. The company launched in 2005, with a focus on rentals. It expanded to include real estate sales in 2007 and started including vacation rentals and hotels in 2009. The company, which competes with the likes of Trulia, Apartments.com, Craigslist and, of course, Zillow itself, raised $2.3 million in a Series A round led by Meakem Becker Venture Capital in 2007, but hasn’t raised…

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About Rob Vanasco

I am a Christ follower, but sometimes not a very good one. I am a husband, and working on getting better. I am a father, sometimes reluctantly. I am an aspiring writer, but have been lazy about pursuing my dream. So, this is me, doing something about it, searching for my real passion; my real dream. I am now in full pursuit of my dream to make a living with words.

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