PropertyTown Acquisition
April 11, 2008
I’m thrilled to finally be able to announce that we have completed a merger/acquisition deal involving National Relocation and PropertyTown. As is the case with these types of deals, I can’t disclose specific numbers, but I can provide the basic components of the deal:
National Relocation will pay WebGuerrilla, LLC (our parent company) a combination of cash, and a substantial equity stake in exchange for an exclusive license to use any current custom WordPress related tools we own, as well as any new tools we may develop in the future in the real estate space. National Relocation will also take ownership of the PropertyTown domain name, and any brand related items.
We will continue to handle feature development, but will also be getting involved with National Relocation’s team to work on integrating our system with their infrastructure. I’ll be putting Dax and Cesar on a plane to Hawaii in a couple of weeks so they can spend a week with the National Relocation team getting things rolling.
This deal is a perfect fit for us, because it allows us to focus our efforts solely on development. It also provides the tools and support we need to make larger scale broker level deals, as well as access to related markets like rental properties, and mortgage services.
That’s about all I can talk about at this point. We don’t have a hard date to roll out the new service, but our tentative goal is to be ready to re-launch in early June. When we do that, it will contain a ton of new features, including fully integrated IDX, and lead management tools, and a bunch of new competitive/market analysis tools.
Comments
14 Responses to “PropertyTown Acquisition”
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Congratulations Greg! And, congrats to Jeff… so, will the PrpertyTown domain still be used, or will everything be at NationalRelocation now?
This is really exciting news for all of us involved as well as for the real estate space online as well.
Looking forward to the new IDX set up, that is going to be sweet from what I’ve heard. Congrats again to Greg, Barbara, Dax, Cesar and Jeff.
Congratulations! - You and Barbra should visit Hawaii as well. Doesn’t someone need to make sure Dax & Cesar aren’t having too much fun?
@ Matt - We haven’t made a final decision about the domain, but I’m leaning towards moving everything over to NR
@ Dave - I’m pretty sure Barbara and I will be visiting regularly now that the trip will be a legitimate tax right-off.
I’m just not going to be able to make this trip because I have too many things to take care of here.
Congratulations again to all of you at PT!
Glad to be with such a progressive company and I can’t wait for the IDX!
Congradulations. It’s always good to see good things happening for good people.
Awesome! - Looking forward to discussing “business” with you folks at one of the beach front, hotel bars.
Love to follow your work! Congrats!
Joe
p.s. When you’re ready to conquer the AutoMotive Dealer Arena, look me up! I am erecting a model for usedcarking-dot-com now. CMS, Video, SEO, etc..
Congratulations on completing the deal. I am sure that doing this will make Property Town and National Relocation stronger players in their respective fields, and allow you Greg to focus more one the things you enjoy and less on the day to day mundane things.
Congratulations on the merger. It sounds like a powerful combination.
I’m just finding your site and here you are moving! It will be interesting to follow along now and see how your business plays out. As realtors “getting” Web 2.0 is so important and I’m happy to find this resource.
Congrats to you Jeff and Greg. OK Jeff, I want to come to Hawaii to visit as well, =) Maybe next year.
Gary
Congratulations ! Too bad you’re not the one going to Hawaii. It’s amazing there.
Just caught this news today, congrats! Checked the site out after SMX West and thought layout and features were great. Nice to see people moving forward and being successful, gives us ideas to work towards.
@Greg Makes more sense from a branding perspective to use NR.com rather than PT.org. NationalRelocation is a very “sticky” name and is an exact description of the services offered whether through the site directly, or the agents listed there, moving companies, lenders etc. It will be very easy to brand that domain into a household/common type name.
Best of luck to you all!