News Corp.-subsidiary REA Group announced on Monday it had given up on its quest to purchase Rightmove after its fourth offer of $8.3 billion was rejected by the UK portal’s board of directors.
Category: portal wars
Move calls on court to stop CoStar Group’s use of ‘unauthorized’ files
Two weeks after filing a theft of trade secrets lawsuit against CoStar Group, Move now wants CoStar to hand over Move-owned files and electronic devices used by former Realtor.com News and Insights Editor James Kaminsky.
CoStar Group tallies Q1 revenue growth on success of Homes.com
The Virginia-based commercial and residential real estate behemoth released its first-quarter earnings on Tuesday, which revealed the company grew its revenue 12 percent year over year to $656 million. The company remained profitable, although its net income dropped 91 percent from $87 million in Q1 2023 to $7 million.
Homes.com gets analyst boost amid 567% annual traffic spike
Despite the initial controversy, Homes.com isn’t letting up on its traffic war with Zillow, Realtor.com and Redfin. The CoStar-owned portal reported late last week that it reached 149 million unique visitors in February, which equals a mind-boggling 567 percent growth in unique visitors compared to February 2023.
Super Bowl ads, buyer bans and nefarious dealings: The Download
We’re taking the opportunity to bring you some of the lesser-known stories you may have missed last week while you were reading about KW and NAR.
Buckle up for the 2024 portal war
Expect the portal wars to go into overdrive in 2024, with CoStar Group leading an ambitious effort to unseat Zillow as the country’s top real estate portal, technology advisor Mike DelPrete writes.
Even CoStar doesn’t think it will unseat Zillow, DelPrete argues
For all its bluster, CoStar Group likely doesn’t think it can overthrow Zillow to become real estate’s top portal, Mike DelPrete tells Intel. Here’s what the commercial real estate giant is really after.