PRIMEDIA Agrees to Buy Rent.com from eBay

PRIMEDIA, a Norcross, GA-based renter resource for apartment and rental home information and listings, has agreed to acquire eBay Inc.’s Rent.com subsidiary for an undisclosed consideration.

The transaction, which is is subject to customary closing conditions, is expected to close in second quarter of 2012.

Upon closing, PRIMEDIA President and CEO Charles Stubbs will lead the combined company.

Founded in 2000 and acquired by eBay in February 2005, Santa Monica, CA-based Rent.com is a pay-for-performance internet listing site (ILS) in the rental housing industry. Led by General Manager Bill McKnight, Rent.com, it enables renters to find a rental property online using a free search tool and allows smaller property managers to fill their vacancies. Prospective renters can search the site’s detailed property listings, including contact information, pricing, photos, floor plans, and virtual tours.

Acquired by affiliates of TPG Capital in July 2011 (read here), PRIMEDIA provides extensive apartment and rental home resources including web sites and mobile applications such as ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com. Its resources will be complemented by Rent.com’s pay-for-performance business model and the new combination is expected to provide advertiser clients a more comprehensive suite of products that deliver high quality leads and leases.

FinSMEs

24/02/2012

One comment

  • PRIMEDIA has completed the acquisition of eBay Inc.’s Rent.com subsidiary. The acquisition creates the industry-leading resource in the fast-growing rental market with reach in all 50 states.

    Terms of the transaction are not being disclosed.

    FinSMEs

    09/05/2012

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