Redfin (NASDAQ: RDFN), a Seattle, WA-based technology-powered real estate brokerage, is to acquire RentPath, the Atlanta. GA-based owner of ApartmentGuide.com, Rent.com, and Rentals.com, for $608m.
The acquisition will bring together a site for buying a home with a site for renting a home, giving people trying to move a complete view of her options.
Dhiren Fonseca, CEO, RentPath simplifies the apartment search experience for millions of consumers, connecting property-management companies with qualified prospective renters. The RentPath network of websites reached 16 million monthly visitors on average in 2020, and recorded full year 2020 revenue of $194 million.
Led by CEO Glenn Kelman, Redfin provides a technology-powered real brokerage search site which uses a combination of local real estate agents and technology to buy or sell a home.
Redfin will increase RentPath’s reach, creating more rental opportunities for the rental properties promoted on RentPath sites.
Key Business Metrics
| Redfin | RentPath | |
| Headquarters | Seattle | Atlanta |
| Employees (as of 12/31/20) | ~4,000 | ~700 |
| Avg Monthly Visitors* | 39 million | 16 million |
| Organic Visitors YoY Growth* | 23% | 26% |
| Total Revenue* | $875 million | $194 million |
FinSMEs
22/02/2021