Real estate listings and search site Zillow has acquired Postlets, a online real estate listing creation and distribution platform. Terms of the deal were not disclosed.
Founded in 2005, Postlets allows individual real estate agents, property managers and landlords to create listings and send them to 13 real estate and social media websites. The free platform itself makes syndication of listings easy. It allows you to create a listing and then automatically distribute the posting across the Web. Postlets also allows agents to create a personalized, customized landing page to showcase all postings in are centralized.
Postlets currently has more than 500,000 registered users have used the platform to create and distribute 350,000 for-sale and for-rent listings in the U.S. As part of the acquisition, Postlets co-founders Asher Matsuda and Raymond Chen have joined Zillow as full-time employees. Postlets will continue to send listings to its current distribution partners.
Zillow, which launched a mortgage marketplace in 2008, has expanded into rentals and mobile. The addition of listings management and syndication is added to the mix with the purchase of Postlets. Zillow is also looking at an IPO in the next year.