A little late to the story, but that doesn’t take…
…away from the fact that it is a bit baffling that HouseValues went the VC route when their financial troubles run deep enough that they laid off another 45 people and the CFO resigned…
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Raymond 2:07 pm on February 8, 2008 Permalink |
While HouseValues is not the only company in the real estate industry that is being hit with the market downturn, the company is in a good financial position to weather the storm better than most.
The layoffs reflect a smaller subscriber base and saving about $5M a year.
The recent $10M acquisition of http://www.realtygenerator.com/
with broker accepted features like Client IDX Website & Ad Management; Realtor CRM (Customer Relationship Manager) and a Broker Monitoring System
along with the VC type investment into Active Rain suggest HouseValues is using it’s $70M in cash reserves to re-gigger its business model.