Zillow (NASDAQ: Z) To Pay $130M To Realtor.com Over Trade Secrets

Posted on

To settle a protracted trade secrets dispute, real estate website Zillow.com has agreed to pay $130 million to the operator of Realtor.com.

Zillow could be feeling pretty lucky right now considering the company would have faced more than $1 billion in damage claims if it had gone to a court trial.

Move Inc., the operator of Zillow’s arch rival Realtor.com, has even at one point claimed total damages amounting to $2 billion, according to HousingWire.com.

The 2-year-old legal dispute began with accusations that two former Realtor.com executives stole trade secrets and shared them with their new employer after defecting to Zillow.

“The agreement allows us to put this litigation behind us, and continue our focus on innovation and the huge opportunity in front of us as the consumer-focused market leader,” Zillow said in a prepared statement.

Move Inc. commented, “We are pleased to have reached an amicable resolution of this litigation. We look forward to putting the matter to rest and returning our full focus to simplifying the real estate process for consumers and the real estate professionals who serve them.”

Disclaimer: We have no position in Zillow Group, Inc. (NASDAQ: Z) and have not been compensated for this article.