July 13, 2008
Real Estate Site’s Location: ‘Intersection of Search and Community’
By Scott Duke Harris, San Jose Mercury News, Calif.
Jul. 13--The housing market may be hurting, but times are good at Trulia, a San Francisco Web company that is regarded among the "vertical search" leaders for real estate.
Trulia last week announced it had secured an additional $15 million in venture capital funding, which Chief Executive Pete Flint said will be invested in expanding the social aspects of the Web site.
Like some other vertical search companies, Trulia is aiming to build its audience and brand by promoting a sense of community and interaction among its users. "The really interesting stuff," Flint said, "is happening at the intersection of search and community."
Trulia was launched in late 2005 by Flint and co-founder and Chief Operating Officer Sami Inkinen. Both worked in high tech in Europe before meeting as students at the Stanford Graduate School of Business. In less than three years, the company has grown from its two founders to 70 employees.
The investment, led by Deep Fork Capital, brings its total fundraising to $33 million. Trulia's earlier investors include Sequoia Capital and Accel Partners.
The housing slump, Flint says, has helped companies like Trulia by altering the way people search for information. With about 5 million unique visitors a month, Trulia ranks among the most trafficked real estate sites on the Web, according to comScore.
Trulia, Flint said, has about 100,000 real estate professionals registered on the site. It boasts of
delivering market trends and neighborhood data at the "hyper-local" level.
Contact Scott Duke Harris at [email protected] or (408) 920-2704.
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