August 19, 2013 
I was reading my twitter feed and it just jumped out at me: Zillow announced their acquisition of StreetEasy  for $50M in cash. I also heard it simultaneously on the show Bloomberg Surveillance . Their CEO Spencer Rascoff  will be on the show tomorrow morning to talk about the acquisition .
While there will be lots of prognosticating about Zillow ‘s entrance into the NYC housing market through a heavily used resource like StreetEasy  (Zillow was here already, just not taken very seriously).
I think there’s a bigger story for Zillow. If Zillow leverages the StreetEasy data presentation model , Zillow will be shaking up the housing market real estate information space across the US.
Think highrise urban housing markets – I call them “vertical” markets (not to be confused with “vertical” in marketing parlance).
• All national data aggregators and brokerage companies haven’t yet figured out vertical housing markets yet in terms of their presentation of information.
• MLS systems remain firmly single family orientated and have yet to present data in highrise markets in a visually logical way – ie co-ops and condos. Symbolic of the general primitiveness of MLS systems in handling multi-unit housing, one MLS system in the NYC metro area still tags “co-ops” as “condos.”
Kudos to Streeteasy for shaking up the market from day one. When they launched, StreetEasy became the housing data resource of choice for most in NYC. I met most of the team a while back and I was impressed with how a small group of people could really shake things up in a huge market. While presenting clean data in a very dirty data environment continues to be a challenge, I think their greatest contribution to the housing market has been how they displayed their information – in a way that consumers screamed for.