Move, Inc. (MOVE) Completes Strategic Acquisition of SocialBios to Integrate Social Networking and Real Estate

QualityStocks would like to highlight Move, Inc. (NASDAQ: MOVE), the leader in online real estate with over 15.2 million monthly visitors to its online network of websites. Move, Inc. operates: Move.com, a leading destination for information on new homes and rental listings, moving, home and garden, and home finance; REALTOR.com®, the official website of the National Association of REALTORS®; MortgageMatch.com, Moving.com; SeniorHousingNet; ListHub; and TOP PRODUCER Systems.

In the company’s news yesterday,

Online real estate company Move, Inc. announced it has acquired social search platform company SocialBios to support Move’s entrance into social networking and to enhance its current real estate services.

SocialBios creates an online hub for individuals and companies to collaborate their online profiles through “About Us” pages, allowing for the discovery of shared connections on various other social networking sites such as Facebook, LinkedIn and Twitter.

Move’s plan is to integrate its online real estate network with SocialBios’ platform to develop products that connect people with real estate professionals.

“Real estate is inherently a social business. Today’s search experience is highly interactive and instant with the explosion of mobile in real estate. We’re uniquely positioned to lead our industry and connect people naturally through their social graph,” Scott Boecker, chief product officer at Move stated in the press release. “This acquisition brings a new element of discovery and creativity to our online real estate marketplace as we evolve our web, mobile and social search experiences.”

Move isn’t alone in its recognition of the potential SocialBios provides to the real estate industry. SocialBios was voted 2011 ‘Best Tech Startup’ winner at Inman Connect NYC by real estate industry leaders who viewed the new technology as the one that would most benefit their industry.

As part of the acquisition agreement, SocialBios founder Ernie Graham and co-founders Ira McMahon and Andrew Van Tassel will join the product development team at Move.

“We’re very excited to join Move and the talented team that continually delivers great products and services based on the premise of connection,” Ernie Graham, general manager for Move’s SocialBios platform stated. “By using the current SocialBios platform as a springboard and leveraging Move’s product and technology assets, we’ll take the concept of social capital discovery and create new ways to expedite higher quality connections between agents and consumers. We’re looking forward to the road ahead and transcending the traditional boundaries within our industry of how to drive better client-agent relationships.”

The financial terms of the acquisition were not released.

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