Zillow Acquisition to Assist in Growth of Online Presence

Zillow Inc. has announced the acquisition of Diverse Solutions, an Irvine, Calif.-based company that helps real estate agents market their businesses and improve their personal Web sites, for approximately $7.8 million in cash and stock. Diverse Solutions' software services include providing listings content and property search functionality for Web and mobile platforms. Founded in 2005, Diverse Solutions has more than 6,000 unique customers, consisting primarily of local real estate agents, and 18 employees. Diverse Solutions will continue to operate its branded services for its customers. Diverse Solutions Founder and CEO Justin LaJoie has assumed the position of vice president of industry solutions at Zillow and will report to Spencer Rascoff, Zillow's chief executive officer. "We're very impressed by the products and team that Diverse Solutions has assembled, and we look forward to offering agents these new solutions for powering their Web sites and marketing strategies," said Rascoff. "With this acquisition, Zillow now can offer agents a broad suite of valuable tools to market themselves across the Web and mobile—whether on their own Web sites via Diverse Solutions, on Zillow, or across multiple sites via our listings distribution service, Postlets."