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First Acquisition Attempt
- Zillow first approached Trulia for acquisition in 2011 after its IPO, leveraging its newly liquid public currency.
- Trulia, also preparing for an IPO, declined, highlighting the complexities of private company mergers and subsequent IPOs.
Public vs. Private Acquisitions
- Public company acquisitions are easier than private ones due to the availability of financial data for valuation.
- Zillow's IPO provided a liquid, publicly traded currency, facilitating acquisitions like Trulia.
Shared Shareholders
- Zillow and Trulia shared major shareholders who supported the merger due to natural industry logic.
- These investors bet on an eventual merger due to the complementary nature of the businesses.