FTC Clears Zillow-Trulia Merger Without Conditions

In a ruling on February 13, the FTC unconditionally approved the Zillow-Trulia merger after an intensive six-month antitrust review. Despite reported concerns "that the merger might concentrate too much power in one company," the FTC ultimately decided to "bless" the Zillow-Trulia combination.¹

The number one and number two most-visited online home shopping sites in the US, Zillow and Trulia announced their intent to merge on July 28, 2014. The FTC's Mergers III section opened an investigation shortly thereafter, with a Second Request issued to the parties on September 3rd. A six-month investigation followed, with the parties, represented by antitrust counsel Beau Buffier and Heather Kafele from Shearman & Sterling (Zillow) and Scott Sher from Wilson Sonsini Goodrich & Rosati (Trulia) and supported by economic teams from NERA (Graeme Hunter and Lawrence Wu) and Charles River Associates (Michael Salinger and Jeff Prisbrey).