Cozy CEO and co-founder Gino Zahnd.
Cozy, a Portland startup that helps more than 50,000 landlords screen potential tenants, market properties and easily collect rent, has been sold to CoStar group in a deal valued at $68 million.
“We believe that if we continue to focus on delivering a fantastic renter experience on Apartments.com, we will continue to be the most heavily trafficked website offering the most valued advertising solutions,” said Andrew C. Florance, CoStar Group Founder and Chief Executive Officer, in a press release. “Cozy’s technology makes the renting and payments process simple, secure, and intuitive. When combined with Apartments.com, the 40 million prospective renters that visit our network each month will be able to effortlessly locate, apply, lease and pay for their new rental home completely online.”
Washington D.C.-based CoStar, a provider of commercial real estate information, analytics and online marketplaces, boasts a market value of $13. 2 billion, and employs 3,600 people. It bought Apartments.com for $585 million in 2014.
Cozy and CoStar play in an arena that’s especially interesting to Seattle-based Zillow Group, which earlier this year rolled out tools to make the landlord-renter ecosystem more efficient.
“Renters tell us they want the entire rental process to …read more