Redfin, headquartered in Seattle, has agreed to acquire RentPath, the Atlanta-based owner of ApartmentGuide.com, Rent.com, and Rentals.com, for $608 million in cash. The two companies say the deal will bring together a leading site for buying a home with a leading site for renting a home, providing more options for users.
“RentPath has more than 20,000 apartment buildings on its rental websites, and grew its traffic more than 25% last year,” said Redfin CEO Glenn Kelman. “We can almost double that audience, as one in five of Redfin.com’s 40+ million monthly visitors also wants to see homes for rent. Together with RentPath, we can create an online destination for every North American to find a home.”
Redfin expects RentPath’s rental listings to be on Redfin.com in late 2022. The deal is subject to approval by a bankruptcy court; RentPath filed for Chapter 11 protection in Delaware last year.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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