move.com

US property portal move.com is a subscription based website established in 2006. It has exclusive access to existing homes listings from its partner website, realtor.com.

Ownership | Market Position | Key Measurements | Market Coverage | Advertising Model | Financials | Site Sections | Technology | Key Management | History | Recent Press | Information Sources

Ownership

move.com is owned by Move, Inc., which also owns partner website realtor.com along with a network of websites that provide information on housing and moving. Move, Inc. is listed on the US stock exchange.

Market Position

At the end of 2008, move.com had reached number 19 in the Hitwise rankings of US real estate websites, while its partner website realtor.com remained in first place.

Key Measurements
(April 2009)

• 4,389,989 homes for sale and apartments for rent (April 2009)
• 1,335,774 unique visitors (compete.com score March 2009)

Market Coverage

All of North America.

Advertising Model

move.com is a subscription based website that offers “featured” and “showcase” listings. The website also sells space to advertisers.

Financials

According to Move’s financial results for 2008, revenue for the fourth quarter was $57.5 million, compared to $62.6 million in the fourth quarter of 2007. Income from continuing operations for the fourth quarter was $282,000, which included a $398,000 restructuring charge related to cost reduction initiatives and a $1.7 million impairment on long-lived assets. Income from continuing operations in the fourth quarter of 2007 was $1.2 million, which included an impairment charge of $4.8 million. Move’s EBITDA was $7.3 million, compared to $9.7 million for the fourth quarter of 2007.

Site Sections


The key sections of the website are:

• Rentals
• New Homes
• Existing Homes
• Home Finance
• Moving
• Home and Garden
• Find Home Values
• Find Neighbourhoods
• Find Senior Housing

The website also includes a blog in its “Trends” section.

Technology

To be completed.

Key Management

The key management are:

• Steven Berkowitz, President, Move, Inc.
• James S. Caulfield, Executive Vice President, General Counsel and Secretary, Move, Inc.

History

move.com was launched in May, 2006. The website was previously known as RentNet and homebuilder.com.

In January 2009, Move, Inc. announced the appointment of Steven Berkowitz as chief executive officer.

In March 2009, Move, Inc. president Lorna Borenstein left the company and was replaced by Berkowitz.

In April 2009, the company announced the departure of its chief financial officer, Lewis R. Belote, III.

Recent Press

Press releases are available from move.com’s investor relations website.

Information Sources

Site Review

1. Move Inc. President Departs

   Move, Inc., has announced the departure of the company's president, Lorna Borenstein. ...

2. Another Drop in Move Inc Revenue

   Move Inc, the company behind top US real estate websites move.com and realtor.com, has announced revenue of US$49.6 million for the fourth quarter of 2009. This is down from $57.5 million in the fourth quarter of 2008 and follows a revenue drop in Q3 2009 compared to 2008 totals. This revenue figure is higher than Move had predicted in its third quarter results, when it said it was expecting revenue ranging between $47 million and $48 million....

3. Move Inc. Reports Revenue Down

   Move, Inc. has reported its financial results for the second quarter of 2009, with revenue down to $54.6 million, compared to $61.4 million in the second quarter of 2008. ...

4. Move Inc Revenue Down Again in Q3

   Move Inc, the company behind top US real estate websites move.com and realtor.com, has announced third quarter revenue of US$52.9 million, compared to $61.2 million in the third quarter of 2008....

5. Move Announces 3rd Qtr Revenue of US$61.2m

   US market leader Move Inc has released their financial results for the third quarter ended September 30, 2008. A press release from the company says total revenue for the third quarter was slightly down to $61.2 million compared to $63.4 million in the third quarter of 2007 ...