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"The online real estate market moved toward consolidation Monday morning as Zillow announced it was buying Trulia for $3.5 billion.\nIn a statement announcing the all-stock transaction, Zillow said Trulia would maintain its distinct identity. Trulia CEO Pete Flint will remain chief executive of that company, but report to Zillow CEO Spencer Rascoff. \nSee also: 5 Ways Big Data Is Changing Real Estate\n\"Consumers love using Zillow and Trulia to find vital information about homes and connect with the best local real estate professionals,\" Rascoff said in the release. \"Both companies have been enormously successful in creating compelling consumer brands and deep industry partnerships, but it's still early days in the world of real estate advertising on mobile and Web. This is a tremendous opportunity to combine our resources and achieve even more impressive innovation that will benefit consumers and the real estate industry.\"\nRumors of the deal circulated last week, driving Trulia's stock price up 40% over the past five days. \n\nTRLA Price data by YCharts\nFounded in 2005, Zillow provides a search engine that gives estimated values for real estate properties. The company has data on 110 million U.S. homes. Trulia, launched the same year, lists properties that are for sale or rent.\nHave something to add to this story? Share it in the comments."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2014/07/28/zillow-buying-trulia-for-3-5-billion/>