DotLoop has been purchased by the Online Real Estate Giant Zillow. This comes as no surprise as Zillow has been on a buying binge with the largest purchase being it’s acquisition of it’s main competitor Trulia. Read our post on Zillow Buys Trulia
What is DotLoop?
DotLoop is an application that Realtors use for easy document signing. They currently have over 685,000 members who use its service and recently raised around $14,000,000 in it’s latest funding round. DotLoop Website
Why did Zillow Buy DotLoop?
Since Zillow is the largest online portal for real estate, it makes sense for them to acquire the tools that agents, brokers, buyers and sellers use during the real estate purchasing process. This particular move allows them to provide additional services to there over 100,000 agent / broker advertisers and 10,000 Broker Partners.
DotLoop was founded in 2009 by 24 year old Austin Allison. It is noted that Austin had the idea of creating DotLoop years earlier when he was purchasing a home and realized that agents were still using old school technology like Fax Machines to send documents out.
Zillow has further expanded their reach and toolset which makes them the dominant force when it comes to the online real estate market. For DotLoop, they now have the partnership that can further expand their reach and distance themselves from their comptitors which are DocuSign and Adobe ESign Service.
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