Move (company)

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Move,Inc.

realtor.com

foundation = 1996
Private company
Industry Internet services
Headquarters Santa Clara, California
Key people

Ryan O'Hara, CEO
Products Realtor.com, Top Producer, FiveStreet, TigerLead Solutions, SeniorHousingNet, ListHub, Moving.com & Doorsteps
Revenue Increase$191.72 Million USD (2011)
Increase$7.26 Million USD (2011)
Owner News Corp (80%) and REA Group (20%)
Number of employees
1,000 (2010)
Slogan N/A
Website www.move.com

Move, Inc, is a real estate web site, which operates the Move Network of real estate web sites for consumers and real estate professionals. The Move Network of web sites captures more than 30 million monthly visitors. The headquarters for Move, Inc. is in Santa Clara, California. Move, Inc. maintains offices in New York City, Scottsdale, Arizona, Westlake Village, California and Richmond, British Columbia, Canada.

Products and services[edit]

Consumer Products[edit]

  • Realtor.com - Move Inc's flagship product, built in collaboration with the National Association of Realtors, provides online search for real estate. Listing data is provided from about 900 Multiple Listing Services (MLS) across the U.S. It also provides mortgage and home financing tools. Realtor.com's mobile apps for iOS and Android provide easy access to listings.
  • Move.com - Launched in May 2006,[1] Move.com is the corporate site for Move inc. It also connects to Move Rentals and Realtor.com's for sale and new home community listings.
  • Doorsteps.com - rental search portal covering homes and apartments in Austin, TX.
  • DoorstepsBuy.com - step by step guide to home buying for first time home owners.
  • Moving.com - offers moving-related services and tools online.
  • SeniorHousingNet.com - online search for senior housing, including independent and assisted living facilities, nursing homes, retirement communities and other elderly care.

Professional Products[edit]

  • Top Producer - a leading marketing and lead generation systems for real estate professionals.
  • ListHub - acquired in 2010,[2] provides Multiple Listing Services and real estate brokers and agents with a listing syndication platform.
  • FiveStreet - acquired in 2013,[3] FiveStreet is a lead management and distribution product for real estate professionals.
  • TigerLead - combines High Quality[citation needed] Home Buyer and Home Seller Lead Generation, with a sophisticated[citation needed] Lead Management Platform
  • Reesio.com - Platform for professionals to collaborate and communicate with home buyers and sellers, mortgage professionals, title and escrow companies, inspectors and other service providers.

History[edit]

The company began by working with the National Association of Realtors (NAR) to host and manage the listings of Realtors nationwide in the mid-1990s.[4] At the time, the company operated as RealSelect, Inc.[5] although the company became better known as Homestore.

  • In 1999, Homestore went public, and raised $140 million.[6] NAR retained a significant equity position, but Homestore negotiated agreements with hundreds of Multiple Listing Servicees (MLSs) and brokerages to secure direct feeds of listings and found itself in a head-to-head competition for listings and traffic with Microsoft’s HomeAdvisor.
  • On December 21, 2001, the company determined that it would restate certain portions of its financial statements.[7]
  • In January 2002, Homestore was sued in violation of the Securities Exchange Act by issuing misleading financial statements.[8]
  • In November 2005, Elevation Partners, a Bay Area Equity Firm, announced a $100 million investment in Homestore.[9]
  • In February 2006, Homestore changed its name to Move, Inc.[10]
  • In October 2009, Move, Inc. entered into a joint venture with Builder Homesite, Inc.[11] Through the strategic partnership, BDX operated the Move.com New Homes channel and NewHomeSource.com.
  • In September 2010, Move acquired online real estate listing syndicator ListHub.[12]
  • In December 2010, Move launched an online mortgage offering called MortgageMatch.com[13] targeting first time home buyers and those looking to refinance.
  • In July 2011, Move acquired SocialBios.[14]
  • In December 2013 and July 2014 its relationships with AOL and MSN, respectively, ended.[15]
  • On September 30, 2014 News Corp and REA Group announced the acquisition of Move Inc.[16]
  • On March 12, 2016 Move Inc. relocated its headquarters to Santa Clara, CA and used the Realtor.com brand for its signage.

Criticism and controversy[edit]

Much of the past criticisms of the company centered on the actions of the management team during the rise of the dot-com bubble. In particular, the founder and former CEO, Stuart Wolff, was convicted of insider trading and falsifying the company books.[17] Wolff's conviction was overturned on appeal in 2008,[18] but he eventually plea bargained for a sentence of 3–5 years.[19]

W. Michael Long, former CEO of Healtheon Corp. and chairman of WebMD Inc. after its merger with Healtheon took over as CEO on January 7, 2002. He was joined by two other former Healtheon and WebMD executives: Jack D. Dennison, chief operating officer, and Lewis R. Belote III, chief financial officer. Joe F. Hanauer, former head of Coldwell Banker’s Residential Group, was named chairman of Homestore’s board of directors.

See also[edit]

References[edit]

  1. ^ "Move.com Launched on Tuesday". maxsell.net. May 5, 2006. Retrieved 2011-08-04. 
  2. ^ "Move Acquires Online Real Estate Listing Syndicator ListHub For $13 Million". TechCrunch. September 21, 2010. Retrieved 2011-08-04. 
  3. ^ cite news | http://marketing.realtor.com/leadership/move-inc-acquires-fivestreet-inc-to-enhance-lead-management-offerings/
  4. ^ "Realtors' On-Line Venture Gets Capital for Restructuring Effort". Wall Street Journal. November 13, 1996. Retrieved 2009-04-02. 
  5. ^ "Why REALTOR.com Matters to REALTORS". National Association of Realtors. Retrieved 2009-04-02. 
  6. ^ "Homestore's New Management Trying to Put House in Order". LA Times. February 27, 2002. Retrieved 2012-04-12. 
  7. ^ "Homestore Announces Accounting Inquiry". 
  8. ^ "Class Action Lawsuit Commenced on Behalf of Purchasers of Homestore.com Inc.". January 16, 2002. Retrieved Jul 25, 2013. 
  9. ^ "Move". Elevation Partners. Retrieved 2009-04-02. 
  10. ^ "Homestore, Inc. to Change Name to Move, Inc." (Press release). Move, Inc. February 22, 2006. Retrieved 2011-08-04. 
  11. ^ "Move and Builder Homesite Join Forces and Resources to Connect Builders with Buyers" (Press release). PRNewsWire. October 14, 2009. Retrieved 2011-08-04. 
  12. ^ "Move Acquires Online Real Estate Listing Syndicator ListHub For $13 Million". TechCrunch. September 21, 2010. Retrieved 2011-08-04. 
  13. ^ "Mortgage Match Targets First-time Homebuyers". UPI. Retrieved 2011-02-10. 
  14. ^ "Move acquires SocialBios". InmanNews. July 18, 2011. Retrieved 2011-08-04. 
  15. ^ Hagey, Paul. "Zillow takes over real estate search at MSN Real Estate after Move Inc.’s exit". 
  16. ^ "News Corp. to Buy Move, a Real Estate Listings Site". The New York Times. September 30, 2014. Retrieved September 30, 2014. 
  17. ^ Palmeri, Chris (July 6, 2006). "How Stuart Wolff Got Himself Caught In A Trap". BusinessWeek. Retrieved 2009-04-02. 
  18. ^ Egelko, Bob (January 15, 2008). "Homestore CEO's fraud conviction overturned". San Francisco Chronicle. Retrieved 2009-04-02. 
  19. ^ Carter, Matt (January 11, 2010). "Stuart Wolff pleads guilty". 

External links[edit]