Zillow Group (ZG) to Acquire Bridge Interactive Group
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Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG) announced it has acquired Bridge Interactive Group, LLC, a leading creator of broker and multiple listing service (MLS) back-office software. Bridge Interactive helps brokers and MLSs address the complex world of listings management by implementing systems based on open standards from the Real Estate Standards Organization (RESO).
Bridge Interactive provides brokers and MLSs with robust listing data management capabilities. Brokers and MLSs that use Bridge Interactive are able to help ensure the accuracy and security of their listing data in the myriad places it resides, improve the speed and efficiency of their listing data distribution, bolster their reporting capabilities, and ensure listings are in compliance with local rules and regulations.
"Bridge Interactive has an outstanding team that has pioneered some of the industry's most innovative solutions for helping MLSs and brokers manage their data," said Errol Samuelson, Zillow® Group chief industry development officer. "Bridge Interactive's offerings simplify a sometimes tedious process that many of our agent, broker and MLS partners face on a daily basis. We're confident our partners will see tremendous value in Bridge Interactive's offerings, and we're excited to help Bridge Interactive expand their platform to drive further efficiencies for brokers and MLSs."
Bridge Interactive is a leader in implementing RESO standards and is most well-known for its Real Estate Transaction Standard (RETS) tools, which are fully compliant with RESO's RETS 1.x standards. RETS is a framework used by the real estate industry to facilitate the exchange of data. Bridge Interactive also offers software to help MLSs achieve RESO's Web API and Data Dictionary certifications, as well as to manage third-party agreements and improve the performance of their MLS systems.
"Bridge Interactive shares the same commitment to open data standards that Zillow Group does," said Samuelson. "We both play an active role on the RESO board and have a deep understanding of the important role data standards play within the industry by fostering collaboration and innovation."
Bridge Interactive's suite of tools include:
- Contact™: a RETS server which enables MLS administrators to review real-time queries, the number of listings, amounts of data requested and more. Contact stores every RETS action and presents the data in easy-to-read analytical reports.
- Cheque™: which enables MLSs to easily manage syndication of listings and to administer billing and account management services for MLS data recipients.
- Compose™: a rich web application for adding and editing listings in a variety of systems via RETS 1.x. As MLSs, franchisors and brokers evolve their metadata, for example by adding new fields and updating business rules, the Compose application automatically updates to reflect those changes.
"We have always been impressed with Zillow Group and the work the company has done to innovate and move the real estate industry forward," said Pace Davis, co-founder of Bridge Interactive. "We share many of the same attributes – we've created great technology that drives innovation. Now with the resources of Zillow Group behind us, we'll be able to grow our technology further."
Davis is transitioning from his role of chief executive officer of Bridge Interactive to Bridge Interactive general manager and will report directly to Samuelson. Bridge Interactive will remain an independent brand, and current customers will see no immediate changes. Bridge Interactive's employees are now part of Zillow Group and continue to work out of their office in Atlanta, Ga.
Data Distribution Guarantee
Bridge Interactive has achieved its success and outstanding reputation by enabling MLS and broker customers to maintain rigorous control over how and where their listing data is distributed. With Bridge Interactive now part of the Zillow Group portfolio, Zillow Group will have no additional rights to publish broker and MLS listing data and Zillow will have no access to listing data stored on Bridge Interactive's servers, other than for the purpose of operating Bridge Interactive's systems.
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