Zillow is paying $40 million in cash to buy RentJuice, a San Francisco based startup that provides software to manage rental listings.Zillow has been trying to branch out beyond its roots as a consumer-oriented web site about homes. It’s added services for real estate professionals to manage listings and customers. With RentJuice, it’s expanding further to appeal to landlords and rental agencies.
RentJuice had 31 employees, who will join Zillow’s more than 400.
Zillow also reported earnings this afternoon, beating expectations handily with EPS of $0.06 on revenue of $22.8 million — more than double last year’s revenue figure, making it the 6th straight quarter of 100%+ growth. Analysts were expecting EPS of $0.03 on revenue of $21.5 million, according to Yahoo Finance.
The stock briefly jumped about 11% after hours, and has now settled at about +4%.