TechTaffy

tech:

taffy

Zillow To Acquire HotPads For $16M

By TechTaffy Desk

[Techtaffy Newsdesk]

Zillow has entered into a definitive agreement to buy HotPads, a map-based rental and real estate search site for$16 million in cash. This is Z illow’s first acquisition of a primarily consumer-facing company. The transaction is subject to satisfaction of customary closing conditions and is expected to close in the fourth quarter of 2012.

Apart from the website, HotPads also has five mobile apps across iOS and Android. Nearly 2.8 million unique users visited HotPads in October, primarily to shop for rentals, nearly 70 percent of all listings viewed during the month were homes or apartments for rent.

Founded in 2005, HotPads has 19 employees, and will continue to operate from San Francisco.

HotPads will be the sixth acquisition by Zillow in less than two years.

Just in

Around the web

Windows 11 Start menu ads are now rolling out to everyone — The Verge

Microsoft is starting to enable ads inside the Start menu on Windows 11 for all users, writes Tom Warren. 
Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.