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Redfin Makes a Bold Move Into Rentals With $608 Million RentPath Deal

TheMotleyFool

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Redfin Makes a Bold Move Into Rentals With $608 Million RentPath Deal

Redfin (NASDAQ: RDFN) on Friday announced an aggressive push into the home rental market, saying it plans to acquire RentPath for $608 million in cash.

RentPath is an online destination for rental listings, running sites including Rent.com, Rentals.com, and ApartmentGuide.com that combined attract about 16 million monthly visitors. RentPath has been operating under bankruptcy protection since February 2020, and hopes to use the acquisition to exit Chapter 11.

Redfin CEO Glenn Kelman said in a statement:

Source Fool.com

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