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StreetEasy is a real estate listing and technology company, launched in 2006, it operates in the New York metropolitan area.

StreetEasy
IndustryReal Estate
GenreTechnology
Founded2006 in New York City, USA
Founder
Headquarters130 Fifth Avenue,
New York, NY
,
USA
Key people
  • Caroline Burton
  • (VP & GM @ StreetEasy)
  • Alireza Farhoush
  • (VP Engineering)
  • Susan Daimler
  • (President Zillow)
ServicesReal Estate
Number of employees
150
ParentZillow
Website streeteasy.com

Company History

StreetEasy was founded in 2005 by Michael Smith, Sebastian Delmont, Doug Chertok, and Nataly Kogan in 2005 as NMD Interactive.[1] The StreetEasy.com website launched in 2006. The company raised an initial $400k from investors including Global Strategy Group, Southpaw Capital Management and Sig Zises. The company received an additional $2.5M investment from FA Technology Ventures in 2006.[2]

The company's founders had no traditional experience in the real estate sector and created the site exploit an opportunity in the New York real estate listing market.[3]

The company became popular by aggregating real estate listings into a single location. Listings were published with price changes and information like days the property had been on the market.[3][4] This information was previously unavailable to the public and by 2008 the company's website was averaging 4.5 million page views per month.[3]

In 2013 StreetEasy was acquired by Zillow for $50M with the understanding the company would still be independent of Zillow. [5][6] Within a year most of the original senior staff had left and CEO, Michael Smith was replaced with Zillow's Susan Daimler.[7]

In 2017 the company launched a new paid listing model and began charging real estate brokers $3 a day for rental listings. [8][9] In 2021 the company reported 180 million visits to its website and app. It is estimated that eighty percent of people searching for a home in New York City used StreetEasy or one of the affiliated Zillow Group websites.[10] By 2022, the listing fee was raised to $6 a day for rental listings though fees were reduced throughout the pandemic.[11][12] The company also charges fees for other features, such as agent spotlight and feature listings.[10]

Software

StreetEasy provides consumers access to real estate listing information that is scrapped off the internet and collected through agent submissions. This data is accessed via their website and mobile application. The ability to collect accurate and up to date real estate listings in NY's MLS challenged, urban high-rise cityscape, has long differentiated the company from other real estate listing databases.[12]

Real estate listings are often accompanied by building information including number of total units, units for sale, units for rent and public permit information. Additionally, proximity information on parks, museums, and schools is also provided with listing information such as days on market, price changes, amenities and listing broker information on each listing.

The company has won Webby awards for Best Use of GPS or Location Technology People's Voice in 2015, Best App & Software in the Real Estate category, in 2016 and 2017.[13] In 2018, the company won a Shorty Award for Best Social Media in the Real Estate category.[14]

In 2022, the company released StreetScape, an augmented reality feature on IOS that allows users to walk down the street using the app to see information on buildings and units for sale.[15] [16]

Data

The company's unique access to data from real estate traffic has allowed them to release monthly market data reports on their website and several yearly lists including:

  • NYC's Most Desired Neighborhoods. [17]
  • Manhattan's Most Searched Neighborhoods[18]
  • NYC Neighborhoods to Watch[19]

These data sets are used by various media sources such as the New York Times, NY Post, TimeOut, Crain's, Bloomberg and, Curbed to attain real estate information for editorial coverage.

References

  1. ^ "Zillow shocks insiders with StreetEasy strategy". The Real Deal New York. Retrieved 2023-01-26.
  2. ^ Chapman, By Lizette. "Zillow to Acquire StreetEasy; FA Technology Ventures' $2.5M Deal in 2006 Pays Off". WSJ. Retrieved 2023-01-25.
  3. ^ a b c "A Real Estate Site Stirs Up The Industry". The New York Sun. Retrieved 2023-01-26.
  4. ^ Bromwich, Jonah E. (2015-05-08). "A Review of StreetEasy's Mobile App for Apple and Android". The New York Times. ISSN 0362-4331. Retrieved 2023-01-26.
  5. ^ Lunden, Ingrid (2013-08-19). "Zillow Fills Out NYC Listings With $50M StreetEasy Acquisition, Plans Follow-On Offering Of 2.5M Shares For $228M". TechCrunch. Retrieved 2023-01-26.
  6. ^ "Property website Zillow buys StreetEasy for $50m". BBC News. 2013-08-19. Retrieved 2023-01-26.
  7. ^ "The Zillowification of StreetEasy: Checking In 13 Months After the Acquisition". Observer. 2014-10-07. Retrieved 2023-01-26.
  8. ^ Plitt, Amy (2017-08-03). "StreetEasy will no longer receive listings from four big NYC brokerages (updated)". Curbed NY. Retrieved 2023-01-26.
  9. ^ Pilgrim, Lexi (2017-06-27). "StreetEasy | NYC Rentals | Premier Agent". The Real Deal New York. Retrieved 2023-01-26.
  10. ^ a b Hourie, Ilya (2022-06-30). "REBNY, CoStar Launch Citysnap Listings Portal". The Real Deal New York. Retrieved 2023-01-26.
  11. ^ Velsey, Kim (2022-03-22). "StreetEasy Tries to Dominate Field and Placate Agents". Curbed. Retrieved 2023-01-26.
  12. ^ a b Lindsay, Kathryn (2022-02-09). "'Amazon for real estate': how the StreetEasy app took over New York". the Guardian. Retrieved 2023-01-26.
  13. ^ "NEW Webby Gallery + Index". NEW Webby Gallery + Index. Retrieved 2023-01-27.
  14. ^ "StreetEasy Social Media - The Shorty Awards". shortyawards.com. Retrieved 2023-01-27.
  15. ^ Weaver, Shaye. "You'll soon be able to search NYC apartments using augmented reality on StreetEasy". Time Out New York. Retrieved 2023-01-27.
  16. ^ "Go NYC Apartment Hunting from Any Street with This New Augmented Reality Tool". Thrillist. Retrieved 2023-01-27.
  17. ^ "StreetEasy's 10 NYC neighborhoods to watch in 2023". PIX11. 2022-12-16. Retrieved 2023-01-26.
  18. ^ Weaver, Shaye. "These are the most coveted neighborhoods in NYC". Time Out New York. Retrieved 2023-01-26.
  19. ^ "StreetEasy: 10 city neighborhoods to watch this year". www.ny1.com. Retrieved 2023-01-26.
source: https://en.wikipedia.org/w/index.php?title=StreetEasy&oldid=1135824128

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