Zillow acquires real estate data startup Retsly
Company’s goal is to normalize MLS data
Zillow (Z) has acquired Retsly, a Canada-based real estate software startup that was founded in 2013. According to the company, its goal is to “normalize real estate data from multiple listing services so developers can build data-driven products for the real estate industry.” Retsly is located in Vancouver, British Columbia but its product is focused on the U.S. real estate market.
The company also provides MLSs with the tools to manage software applications in their market and ensure their content is being used appropriately. The company says that by normalizing MLS data, software developers will be able to scale more easily across many MLSs throughout the country.
“Retsly’s platform will spur tremendous innovation in the real estate space, enabling developers to build software that works across MLS boundaries and without the overhead of dealing with local data formats,” said Spencer Rascoff, Zillow CEO.
“Retsly’s team and cutting-edge technology is a great fit with Zillow and aligns with our goal to offer great value and services to our industry partners. We’re thrilled to welcome Retsly to Zillow.”
The acquisition of Retsly is an extension of Zillow’s Tech Connect program, which Zillow says “enables leading technology companies to directly integrate with Zillow to help brokers and agents deliver better, smarter services to buyers and sellers.”
The Retsly deal marks Zillow’s eighth acquisition, and the sixth of a company that offers a suite of business-to-business tools for local professionals.
“We are committed to providing the software development community with tools that make it easier to build amazing technology products and applications for real estate professionals,” said Joshua Lopour, co-founder of Retsly. “With Zillow, we look forward to accelerating the growth of a vibrant software community within the industry.”
Zillow did not disclose financial terms of the deal.