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Terabitz Launches to Offer Integrated Solution for All Things Real Estate
Jul 17, 2007 (08:07 AM EDT)


PALO ALTO, Calif., July 17 /PRNewswire/ -- Every now and then consumers are introduced to a product that fundamentally changes the rules, rendering all prior offerings insufficient or even obsolete. Consider what iTunes has done for music, TiVo for television, or eBay for auctions, to name a few. Today, Terabitz ( http://www.terabitz.com ) introduces the first comprehensive and customizable real estate Web site that changes the online real estate industry by helping consumers make smart decisions before, during, and after a property transaction in ways never before possible.

Anyone who has ever purchased a home, searched for a rental property, or tried to find expertise in all of the services accompanying these efforts knows that the process is extremely complicated, and information is inconsistent, fragmented and difficult to organize. To date, no company has been able to bring together all of the information, all of the resources, and all of the tools under a single umbrella -- until now. By providing a central location for all real estate explorations, Terabitz is the first real estate Web site designed to help consumers before, during, and after their home purchase.

"Moving to a new home or apartment is one of the biggest decisions a person can make in their lifetime, but most online real estate sources today provide only one piece of the puzzle," said Ashfaq Munshi, CEO of Terabitz. "Fundamentally, there is more to a home purchase than valuation and square footage and more to an apartment than the monthly rent. People need an easy way to manage the dozens of sources of information that comprise a move. Companies such as Zillow have attempted to solve this problem, but offer only single, narrow solutions."

Terabitz realizes that every home exploration is unique. That is why every user can customize, store, and share their real estate data and content to fit their own personal needs. Terabitz enables more than just a single comprehensive source for property listings -- it also allows integration of unlimited local neighborhood information, market research, schools, restaurants, crime and safety statistics, service providers, financial tools, and more. Every category of information is available in one place and is all customizable, via simple drag and drop technology, for every step of the process.

"I've had the opportunity to preview dozens of real estate Web tools over the past five years. While existing offerings have proven to offer great utility to housing consumers and professionals alike, few have hit the nail on the head as the new offering from Terabitz," said Steve Murray, Co-Editor of REAL Trends. "Terabitz is very easy to use and allows consumers to view multiple real estate sites and related community data simultaneously, and with automatic updating. I am not aware of any comparable utility on any other Web sites available at this time."

The technology behind Terabitz aggregates a broad array of the most authoritative content and data across the Web, making it available to home shoppers in a single location. Content sources include comprehensive maps from Google Maps; current open homes from multiple sources; local information from Craigslist and much, much more.

Additionally, Terabitz provides a platform and community where users can share all of the relevant preferences and information amongst themselves, their friends and family, and the local market service providers that are helping them through the process. The unique Snapshots feature lets home buyers share their new home preferences and requirements with others in ways that truly enhance the way real estate works today. Changing your address -- be it a new home or apartment -- is hardly ever a solo experience. Being able to share information with friends and family adds another level of convenience to the moving process.

"Terabitz takes a great deal of pride in being able to provide the definitive, customizable platform for a consumer's every real estate need," added Munshi. "To examine real estate across multiple dimensions, to place that property in the larger context of the surrounding area, to provide the tools to make the process one that can be easily shared, and to create a sense of community around that property are all fundamental to our goals."

Throughout the year, Terabitz will be announcing an impressive array of partnerships as the industry moves to adopt and support this innovative consumer advocacy approach.

Terabitz Executive Team

The Terabitz executive team is comprised of experienced technology and real estate professionals. The company was initially conceived in 2005 by then 15-year-old Kamran Munshi. Kamran immediately began collaborating with his father, Ashfaq Munshi, former CEO of Level 5 Networks and founder of four other Silicon Valley companies including Radiance, Vivecon, SpecialtyMD, and Commerce Engine and now CEO of Terabitz. Kamran Munshi is currently CTO at Terabitz. The Munshi's worked together to develop a business idea and hired a team of engineers to build the product. Kamran and Ashfaq are joined by Kevin Akeroyd, VP of Marketing and Business Development who was a former General Manager of Mortgage at HouseValues, Chris Kosloski, VP of Sales who was a former VP of Sales at Move.com, and Travis Chow, VP of Product Management, and founder of Neighboroo.

About Terabitz

Terabitz is the most complete resource online in the real estate industry for consumers evaluating a real estate transaction and a definitive "home page" that provides everything in one place. Terabitz is a destination that is comprehensive, objective and easy to use. Property listings, neighborhood highlights, local market data, and local service providers can be accessed, stored, and shared with friends and family, as well as real estate agents and other providers. The platform is flexible, fun, and helps every consumer make smart decisions before, during, and after the property transaction. Palo Alto, California-based Terabitz was founded in 2006 by father and son Ashfaq and Kamran Munshi. The father and son duo successfully raised $10M in a series A round from Tudor Capital, part of the Tudor Hedge Fund family. For more information, please visit http://www.terabitz.com .

CONTACT: Matt Marquess of Spark PR, +1-415-321-1874, terabitz@sparkpr.com,for Terabitz

Web site: http://www.terabitz.com/