Move, operators of Realtor.com, AOL Real Estate, and MSN Real Estate, Listhub, Top Producer, is growing through acquisition as they announce their purchase of Tigerlead. Presumably, Tigerlead will be alternative product with similar functionality to Top Producer. The company was purchased for $22 Million. The executives from TigerLead Solutions will be joining the Move management team, strengthening their already deep bench of experts who understand how to attract, convert, cultivate, and close online home buyers and sellers. Existing Tigerlead customers will benefit from MOVE’s consumer traffic that will fill lead funnels.
Here is the Move Buys Tigerlead press release.
“Move has long been the leader in the online real estate space. Bringing TigerLead under the Move umbrella extends our value to our customers in a tangible way that will deliver more high quality leads and help facilitate more real estate transactions,” said Steve Berkowitz, Chief Executive Officer of Move. “By adding an agent-branded website and search solution that richly complements the leads generated by REALTOR.com®, this acquisition further enables Move to deliver the best suite of solutions to both consumers and real estate professionals. No other company has our breadth of solutions that connect consumers with properties and local agents, while delivering a complete set of productivity tools to agents that let them manage their business from initial lead generation through to transaction close and beyond.”
Used by thousands of agents nationwide, the TigerLead platform provides real estate professionals a powerful solution for capturing, cultivating, and managing buyer and seller leads. For brokers and teams, the platform also provides an enterprise-class lead management system that gives 24/7 visibility into the entire team’s lead follow-up performance. This unique platform provides a potent closed-cycle system that combines strong Search Engine Marketing (SEM) expertise with a sophisticated IDX platform and lead management system to help agents generate “Smarter Leads,” leads that are delivered with unique insights such as how many times a user has returned to the site to search, price ranges and the amount of times homes are viewed.
“TigerLead has built a powerful platform that delivers real results, and we will continue to provide a strong return on investment for our clients, enhance the strengths of our product offering, and respond to all of our customer needs,” said Howard Tager, co-founder of TigerLead. “Additionally, with TigerLead now part of the Move family, there is a tremendous opportunity to enhance our existing product by leveraging Move’s industry-leading online consumer traffic and engagement as well as capitalizing on its strength in mobile technology – an area where TigerLead’s customers have expressed a very strong interest.”
Subsequent to the acquisition, the existing TigerLead team will remain intact, with co-founders Howard Tager, Art Sawyer, and Adam Ingersoll continuing to run the TigerLead business supported by their experienced management team. The purchase price for the acquisition was $22 million in cash and will be reflected in Move’s third quarter 2012 financial statements.