Seattle real estate company Zillow announced it has purchased Postlets, a site that allows agents and property managers to create and distribute listings across broad online markets. The acquisition marks the first purchase in the company’s history.
More than 500,000 people now use Postlets. Real estate professionals like the service because it allows the user to distribute an opening across the Internet with simple creation of a posting.
Zillow CEO Spencer Rascoff wrote about the acquisition on the company’s blog.
“Ask anyone in the industry, and they’ll tell you that Postlets is a great tool for agents, property managers and landlords looking to promote their listings and manage their online presence, for free,” he wrote. “As part of this acquisition, Postlets will continue to send listings to its current distribution partners.”
Since its creation in 2005, Zillow has grown to attract more than 19 million users on a monthly basis and has raised $87 million in venture capital funding. As part of the deal, the founders of Postlets will join the Zillow staff.