Trulia raises $15 million
Real estate technology roundup
By Inman News, Friday, July 11, 2008.Bookmarking Sites
Trulia receives another capital infusion
Residential real estate search engine Trulia on Thursday announced it has secured an additional $15 million in funding, and has raised a total of $33 million in venture capital.
Deep Fork Capital LLC led the financing with prior investors Sequoia Capital, Accel Partners and Fayez Sarofim & Co. also participating. Trulia will use this round of funding to further its development of new products and services for home buyers, agents, brokers and advertisers and to expand their advertising services for the recently launched Trulia Advertising Network and self-service offering, Trulia Pro.
"The housing slump has permanently altered how people search for real estate and their thirst for information," said Pete Flint, co-founder and CEO of Trulia. "This additional capital will help us take advantage of this opportunity and continue our accelerated growth. …"
Condo.com partners with HGTV's Frontdoor.com
Condo.com, a site that lists condos for sale in more than 70 countries, on Thursday announced its listings will now appear on HGTV's Frontdoor.com through a new partnership. The agreement aims to give Condo.com listings increased presence through FrontDoor.com's various media outlets, primarily on the popular HGTV and DIY network, as well as its Internet site.
In addition to providing users with residential for-sale property listings, FrontDoor features HGTV advice and videos along with original Web series and a comprehensive library of interactive tools, guides and information.
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Submitted by Jay Thompson on July 11, 2008 - 6:48am.
Trulia's new infusion will likely annoy the Trulia bashers out there. Oh well.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Stefan Swanepoel on July 11, 2008 - 7:27am.
Congrats Sami and Pete. This will be interesting and will improve the schuffle between the top 10 for who gets the most eyeballs.
Stefan Swanepoel
Author Swanepoel Trends Report
CEO: RealtyU Group
Submitted by mark langowski on July 11, 2008 - 10:28am.
Jay,
Not sure why this would annoy Trulia bashers? If anything I think it would make them very happy. Seeing that raising additional capital would lead one to assume that they can't innovate with their current cash flow and they need more money. Thats how I see it.
http://www.beatyouthere.com
Submitted by Jay Thompson on July 11, 2008 - 3:26pm.
Mark -
I was thinking more along the lines of the bashers want Trulia to just go away. It's hard to go away when you have an shiny new $15M deposit in the checking account...
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Team Puluwai on July 12, 2008 - 8:05am.
Overall I think this is a good thing for everyone involved in real estate technology. There are still a huge number of people just now becoming aware that they can start browsing real estate using the web, and now on smart phones such as the iPhone. Trulia has done a lot to raise consumer awareness of what is possible.
Submitted by mark langowski on July 12, 2008 - 9:52am.
Jay,
I see what you were saying now. I was just looking at it from a business financial balance sheet perspective.
Submitted by Bart Wilson on July 12, 2008 - 11:26am.
It's interesting to see that money still has to be raised by Trulia and Zillow to fuel their monthly burn rate and they are still chasing profitability.
With gas hitting $5 a gallon soon, Indy Mac is dead now and taken over by the government, 400,000 homes are in foreclosure. Thousands of people have lost their jobs and have been grafted onto the rear end of the unemployment line.
More than 74% of all new home searches begin on Google. Not Zillow, Not Trulia not HomeGain, not Realtor.com.
Yet there are VCs out there willing to toss millions of dollars on bad business model like Trulia and Zillow.
I don't get it.
Bart Wilson