New York real estate obsessives rely on StreetEasy, so worlds were shaken this morning with the announcement that fellow listings site Zillow has purchased StreetEasy for $50 million in cash. StreetEasy CEO Michael Smith says StreetEasy will "continue to operate as usual," and indeed, it's a rather small acquisition for Zillow. (Though the news appears to have crashed StreetEasy already this morning.) But it will certainly help the company stay ahead in the New York City market.
· To Cover New York, Zillow Buys a Rival Site [Dealbook]