Real estate site Zillow is looking into acquiring rival Trulia, reports Bloomberg’s Alex Sherman and Jeffrey McCracken.
“Zillow could value Trulia at as much as $US2 billion in a purchase, and an agreement may be announced as soon as next week,” they reported citing anonymous sources.
Trulia, which had a market cap of roughly $US1.5 billion before Bloomberg’s report crossed, surged 30%.
Zillow, which has a market cap of just over $US5 billion, is up 20%. It’s one of the most heavily shorted stocks in the market.
“Talks between the companies are ongoing and may not lead to a deal,” the Bloomberg reporters caveated.
Both companies offer websites that connected home buyers and renters with brokers and landlords.