Zillow buys real estate software startup Retsly


Vancouver-based Retsly offers a platform (replete with an API) that allows real estate app developers to integrate data from multiple listing services (MLSs), and also provides MLSs tools for managing and tracking real estate apps/data. (PR)

CEO Spencer Rascoff: "Retsly's platform will spur tremendous innovation in the real estate space, enabling developers to build software that works across MLS boundaries and without the overhead of dealing with local data formats."

The purchase price is undisclosed. Zillow (NASDAQ:Z) plans to add Retsly's offerings to its Tech Connect program (launched last November), which allows 3rd-party software/service providers used by brokers and agents to integrate their systems with Zillow's. The company recently announced it now has 25 Tech Connect partners.

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  • Surbiton
    , contributor
    Comments (160) | Send Message
     
    It must be so easy for someone to replicate this stuff if the acquisition only started last September as explained in the Tribus Press release. Be interesting how massively Zillow overpaid for this business.

     

    Chicago, IL (PRWEB) July 16, 2014

     

    TRIBUS announced it has divested of its investment in Retsly, a software company that normalizes multiple listing services data so developers can create more comprehensive and easy-to-use products for the real estate industry.
    Chicago-based TRIBUS invested in Retsly in September 2013 after Director of Strategy Eric Stegemann took notice of the immense necessity of such software. In his advisory role, Stegemann used his extensive knowledge of the real estate landscape to guide Retsly toward success.
    Stegemann, taking from his past experience owning a successful brokerage in St. Louis, helped to pave the way for the startup. He offered guidance of what strategies work best with MLS data and what brokerages are looking for.
    The hard work paid off as Zillow, Inc. (NASDAQ:Z) announced its acquisition of Retsly July 16, 2014 as a way to boost its efforts to assist brokers, agents, MLSs and franchises become more efficient and successful.
    “TRIBUS is very proud of the entire Retsly team for its success and the quick acquisition of the company. We saw the value early on, not only of the technology, but also the team behind it,” says Eric Stegemann. “We’re always on the lookout to work with other great firms just like them.”
    16 Jul 2014, 05:53 PM Reply Like
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