No, Zillow does not own Boomtown.
Understanding Proptech Ownership
Boomtown, a prominent technology provider specializing in lead generation and customer relationship management (CRM) solutions for real estate professionals, was acquired by Inside Real Estate. This significant acquisition in the proptech sector was finalized in January 2023. Inside Real Estate, known for its kvCORE platform and other real estate solutions, has integrated Boomtown into its portfolio, enhancing its comprehensive offerings for agents and brokers.
Key Acquisitions in Real Estate Technology
While Zillow is a major player in the real estate industry, their significant acquisitions have focused on other strategic assets that complement their diverse business model. The recent landscape of major real estate technology acquisitions highlights distinct ownerships:
| Acquiring Company | Acquired Entity | Acquisition Year | Primary Focus |
|---|---|---|---|
| Inside Real Estate | Boomtown | 2023 | Real estate CRM, lead generation, websites |
| Zillow | ShowingTime | 2021 | Online showing management and scheduling |
This table clearly demonstrates that Boomtown is owned by Inside Real Estate, not Zillow. Zillow's acquisition of ShowingTime in 2021 was a strategic move to streamline the process of scheduling property showings for agents and their clients across the country.
The Impact on the Real Estate Industry
The proptech industry is characterized by continuous innovation and strategic consolidations aimed at providing more integrated and efficient solutions for real estate professionals and consumers. Acquisitions like these serve to:
- Expand Service Offerings: Combining specialized tools to create more comprehensive platforms.
- Consolidate Market Share: Bringing together client bases and technologies to strengthen market position.
- Enhance User Experience: Aiming to provide a more seamless and powerful suite of tools for agents and brokers.
Therefore, while both Zillow and Inside Real Estate are influential entities in the real estate technology space, their major acquisitions have involved different companies, with Boomtown now operating under Inside Real Estate. For further details on this acquisition, you can explore industry news sources such as Inman.
