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AOL Inc. and Move, Inc. Agreement Expands Online Real Estate Marketplace
Jan 13, 2011 (04:01 PM EST)
New Relationship Unites Power of AOL Audience with Move's Leading Real Estate Search Experience
CAMPBELL, Calif., Jan. 13, 2011 /PRNewswire/ -- AOL Inc. (NYSE: AOL) and Move, Inc. (Nasdaq: MOVE) today announced an agreement giving Move exclusive rights to power the AOL Real Estate homes for sale search experience. The agreement delivers a powerful ad network for agents and advertisers to expand their reach and visibility to AOL.com's millions of monthly visitors.
The AOL Real Estate experience powered by Move will deliver a user experience customized for AOL with instant access to accurate property listings, neighborhood and school content, and connections to real estate experts. Leveraging Move's ListHub network, Move will syndicate millions of listings to AOL Real Estate and power the home buyer's search experience using their proprietary search technology launched in late 2010.
While Move will begin powering the AOL Real Estate homes for sale listings search experience later this year, Move and AOL Real Estate will soon begin coordinating sales efforts to benefit agents, brokers, and advertisers. Agents and brokers syndicating to AOL Real Estate through Move can receive greater efficiency by extending their reach in the online marketplace with one easy-to-manage data feed.
"Our new relationship with AOL Real Estate is an exciting opportunity for Move to once again deliver on our commitment to connect agents with large, high-quality audiences of potential buyers," said Move, Inc., Chief Executive Officer Steve Berkowitz. "By remaining focused on delivering an exceptional user experience, accurate data, and high value products, Move continues to build our category leadership to the benefit of consumers, agents and brokers. We're excited to move forward with AOL and use our combined strengths to help agents and advertisers grow their businesses."
"AOL will be doubling down on our strategy in 2011," said Tim Armstrong, Chairman and Chief Executive Officer, AOL Inc. "As part of that effort, we will be partnering with companies in areas that add strength to the consumer experience and drive profitability for AOL."
The AOL Real Estate search experience powered by Move will launch in the second half of 2011, and be available to home buyers from the AOL Real Estate homepage. The financial terms of the agreement were not disclosed.
AOL Inc. (NYSE:AOL) is a leading global Web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL's business spans online content, products and services that the company offers to consumers, publishers and advertisers. AOL is focused on attracting and engaging consumers and providing valuable online advertising services on both AOL's owned and operated properties and third-party websites. In addition, AOL operates one of the largest Internet subscription access services in the United States, which serves as a valuable distribution channel for AOL's consumer offerings.
ABOUT MOVE, INC.
Move, Inc. (Nasdaq: MOVE) is the leader in online real estate listings, and has 11.6(1) million monthly visitors to its online network of web sites. Move, Inc. operates: Move.com, a leading destination for information on new homes and rental listings, moving, home and garden and home finance; Realtor.com(R), the official web site of the National Association of Realtors(R); Moving.com; SeniorHousingNet; Top Producer Systems, and ListHub. Move, Inc. is based in Campbell, California.
This press release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
(1) comScore Media Metrix, November 2010
SOURCE Move, Inc.