It must be nice to have Google’s bank account. Google, looking to grow in the online real estate sector, is planning to buy numerous companies in the space, monthly.
Every VC that has made a bet in the real estate sector just poured a second drink and put their feet up.
This is very positive for the internet sector in 2010. With Google promising to make handfuls of purchases, expect the Palo Alto real estate market to tighten just one more notch.
Google is a very important player in real estate online, albeit not in as direct way as they apparently wish. Google is a popular tool, via its Map search engine, for aspring home purchasers to browse neighborhoods. Google is looking to import even more data to their products.
By purchasing compaines working in real estate, Google will be able to bake in new levels of data into their current offerings. Google wants to have all the data, everywhere.
Of course, Google is not doing this just to allow some VC’s to hit their ROI targets. Google is going to forge even closer relationships with some of the most important users of the internet: realtors. Realtors have been pulling their ad dollars offline in droves. Google will be looking to connect the sellers with the purchasers, making money on the handoff. Google playing middleman for yet another huge market.
So, if you own an online real esatate firm, shine the door, and bake Google a cake. Big things ahead.
As a final aside, what I want to see is Google take Google Earth, and share the US based on