Primedia Acquires RentalHouses.com (posted 2/7/07)
Primedia’s Consumer Guides division announced Tuesday that it had acquired apartment listing Web site RentalHouses.com. Terms of the deal were not disclosed.
Primedia plans to incorporate the site into its Rentals.com Web site, adding the listings to Consumer Source’s HomeRentalAds.com, RentClicks.com and ApartmentGuide.com listings. According to the company, Rentals.com will carry almost 62 percent of all paid small-unit rental listings on the Internet.
Consumer Source’s small-unit rental Web sites in third quarter 2006 represented $11 million in annualized revenue, and received three million unique visitors monthly. “In the third quarter, 2006, our small unit business delivered 94 percent year-over-year organic growth,” said Consumer Source CEO Robert Metz in a statement. “We expect that adding RentalHouses.com to our portfolio and creating the Rentals.com umbrella for our three small unit Web sites further increases our market strength and growth potential.”