Zillow to Acquire Mortech To Expand Professional Services in Zillow Mortgage Marketplace

 Zillow to Acquire Mortech To Expand Professional Services in Zillow Mortgage

PR Newswire

SEATTLE and LINCOLN, Neb., Nov. 5, 2012

SEATTLE and LINCOLN, Neb., Nov. 5, 2012 /PRNewswire/ -- Zillow, Inc. (NASDAQ:
Z), the leading real estate information marketplace, today announced it has
entered into a definitive agreement to acquire Mortech, Inc. , a mortgage
technology company that provides essential software tools to the mortgage
industry, for approximately $12 million in cash and 150,000 shares of
restricted stock. The transaction is subject to satisfaction of customary
closing conditions and is expected to close in the fourth quarter of 2012.

This acquisition accelerates the development of Zillow® Mortgage Marketplace,
Zillow's lending marketplace where borrowers can connect instantly with
reputable lenders to get personalized loan options and real-time mortgage
rates. Now Zillow will deliver valuable marketing and productivity solutions
to mortgage professionals to help them manage their business, and convert more
borrower contacts to funded loans. Currently on Zillow Mortgage Marketplace,
borrowers submit more than 1 million loan requests per month and receive on
average 25 customized quotes, which they can compare alongside over 22,000
lender reviews.

"We are following our proven strategy of building home-related marketplaces.
In the case of Zillow Mortgage Marketplace, we first innovated on behalf of
consumers by creating a transparent marketplace where the borrowers' needs
come first, then we connected borrowers with lenders, and now we are investing
in tools to help lenders be even more successful serving consumers," said
Spencer Rascoff, Zillow's CEO. "Enhancing the capabilities of mortgage lenders
ultimately leads to a more vibrant and transparent consumer experience."

Founded in 1987, Mortech™ is based in Lincoln, Neb. and has 39 employees.
Mortech's subscription-based software solutions include:

  oA product and pricing engine to help lenders quickly match the right
    mortgage products to the needs of a borrower at the best prices
  oA lead management platform to help lenders efficiently serve borrowers
    from multiple channels both online and offline
  oMarketing tools to keep lenders' brand and rate quotes in front of
    borrowers throughout the mortgage shopping process

"At Mortech, we are focused on helping mortgage professionals do a better job
at closing deals through a variety of best-in-class productivity tools," said
Don Kracl, president of Mortech. "We're thrilled to join the Zillow team,
which has demonstrated a deep commitment to empowering both consumers and
professionals in the mortgage industry through their innovative mortgage
marketplace. Becoming part of Zillow will enable us to broaden the reach of
our product and deliver even better technology solutions to lenders."

Mortech will continue to operate from its Nebraska office.

Mortech will be the fifth acquisition by Zillow in two years, and its first in
the mortgage sector. The company last week announced the acquisition of
Buyfolio™, an online and mobile collaborative shopping platform where home
shoppers can search, track, organize and discuss for-sale listings with their
real estate agent and others in their personal network. In June 2012, Zillow
acquired RentJuice®, the foundation of Zillow Rentals. In 2011, the company
acquired Postlets®, a leading online real estate listing creation and
distribution platform and Diverse Solutions®, which helps real estate agents
market their businesses and improve their personal websites. Each of these
companies provide valuable services that support Zillow's strategic expansion
beyond a traditional media model to offer a suite of marketing and business
services to local professionals.

About Zillow, Inc.
Zillow (NASDAQ: Z) is the leading real estate information marketplace,
providing vital information about homes, real estate listings and mortgages
through its website and mobile applications, enabling homeowners, buyers,
sellers and renters to connect with real estate and mortgage professionals
best suited to meet their needs. More than 35 million unique users visited
Zillow's websites and mobile applications in September 2012. Zillow, Inc.
operates Zillow.com®, Zillow Mortgage Marketplace, Zillow Mobile, Postlets,
Diverse Solutions, Zillow Rentals and Buyfolio. The company is headquartered
in Seattle.

Zillow.com, Zillow, Postlets, Diverse Solutions and RentJuice are registered
trademarks of Zillow, Inc. Buyfolio is a trademark of Zillow, Inc.

Mortech is a trademark of Mortech, Inc.


SOURCE Zillow, Inc.

Website: http://www.Zillow.com
Contact: Jill Simmons , Zillow, +1-206-757-2794 or press@zillow.com
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