HomeStore Peddling Assets
March 4, 2002
ConsumerInfo.Com On Block
Inman News Features
HomeStore is trying to sell ConsumerInfo.com, a provider of credit reports and other credit-related information to consumers, according to sources who have been contacted to purchase the asset.
Homestore acquired ConsumerInfo.com in August as part of a $151 million deal for iPlace, which was created in February 2000 when California-based ConsumerInfo merged with eNeighborhoods and QSpace. iPlace was one of the first companies to enable consumers to access their credit reports online and to offer an online merged report containing credit information from the three major credit bureaus.
Homestore last month sold the eNeighborhoods business unit to its original founders in the form of a new company, Siegel Enterprises. But that sale did not include the ConsumerInfo.com unit.
A Homestore spokesperson today declined to comment on whether ConsumerInfo is on the block.
The sale of ConsumerInfo could be a rich source of cash for HomeStore.
Homestore hasn?t elaborated on the details of its stated intention to make listings and real estate agent lead-generation the core of its business strategy.
But inside the industry, potential buyers are being recruited to purchase certain assets and ConsumerInfo.com is considered one of the most valuable.
Copyright: Inman News Service