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Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

November 26, 2012 at 1:32 PM

Zillow does Cyber Monday thing, buys a startup

Zillow joined the Cyber Monday shopping horde and bought itself a startup.

Today, Zillow announced that it’s buying San Francisco-based HotPads for $16 million in cash. HotPad operates a rental and real estate search service that will complement the Zillow Rentals service launched last month.

The Seattle online real estate company has been on a shopping spree lately. On Nov. 5, it announced plans to buy mortgage tech company Mortech, and in October it bought collaborative shopping platform Buyfolio.

Altogether Zillow has bought six companies in the past two years, which has helped the company broaden its lineup of services and gow traffic to nearly 36 million unique users last month.

One of those acquisitions, RentJuice, was the basis of Zillow’s new rental service.

HotPad drew 2.8 million users last month, mostly to shop for rentals, according to Zillow’s release. The company was started in 2005 and employs 19 people, who will remain in San Francisco after the deal closes later this quarter.

Zillow closed up 11 cents today at $26.22, then gave up a nickel in after hours trading, after the HotPads deal was announced.

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