Zillow Group (NASDAQ:ZG) has acquired Follow Up Boss, a customer relationship management (CRM) system for real estate professionals.
The acquisition purchase price includes $400 million of initial cash consideration and up to $100 million in a potential cash earnout. Follow Up Boss will remain an independent brand and will continue to build its client base as a standalone product offering while serving all existing clients, regardless of whether an agent engages with other Zillow Group platforms; the acquired company will also continue supporting its third-party integration partners while Zillow Group will continue supporting third-party CRM integrations on the Zillow Premier Agent app so its Premier Agent partners can work in whichever CRM they choose.
“Follow Up Boss is beloved by agents across the industry, including many Zillow Premier Agent partners and ShowingTime+ clients,” said Zillow Group President Susan Daimler, who added that her company will continue investing “in tech solutions to help agents deliver an increasingly seamless experience for our shared customers. Follow Up Boss has built the best CRM for agents and teams in the industry, and we look forward to supporting its continued success so agents can exceed the needs of today’s buyers and sellers.”
Follow Up Boss has approximately 100 full-time employees who will join Zillow Group once the acquisition closes, including co-founders Dan Corkill and Tom Markov.
“We’re excited to have more resources to invest in new features and functionality while still delivering the great experience our clients enjoy today,” said Corkill. “Our mission remains the same — to serve top-performing real estate teams and agents by providing industry-leading technology to power their businesses. We know Zillow Group shares that commitment.”