Tribune buys ForSaleByOwner.com. But why? (Tech Confidential

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Tribune buys ForSaleByOwner.com. But why?

[Posted on May 23, 2006 - 1:36 AM]

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The Internet real estate company, ForSaleByOwner.com, was acquired today by Tribune Co. for an undisclosed amount. All the Chicago-based newspaper chain is really getting from this deal is a catchy (but lengthy) domain name and a basic database-driven Web site worth about $150,000.

Despite the pressing need for a discount home buying and selling market, ForSaleByOwner.com has not succeeded since its establishment in 1999. Today, it has only 3 listings in San Francisco and 11 in New York City. If Tribune aggressively pushes the concept of do-it-yourself home selling within its Tribune Interactive division, it could be a significant new source of revenue for the company in the coming years. But, beyond ForSaleByOwner.com's domain name, Tribune could have achieved that by building, not buying.

Technorati tags: forsalebyowner, realestate, tribune, forsalebyowner.com, vc, venture capital

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