Jul. 6, 2009
paidContent - Tree.com Moves Into Home Improvement Listings With Purchase Of Done Right
IAC (NSDQ: IACI) spin off Tree.com has purchased some assets of online home improvement directory Done Right. Financial terms of the deal were not disclosed, although Done Right, which provides a way for people to search for contractors in 23 markets, had raised $5 million in venture funding, according to peHub. It will be the latest addition to Tree.com’s portfolio of sites, which includes LendingTree.com (NSDQ: TREE) and RealEstate.com. The company said that it would expand Done Right into additional markets and that Done Right would be able to market its services to Tree.com’s existing customers. Tree.com’s revenue fell during the first quarter compared to a year ago, in part due to falling sales at its real estate business, and executives said at the time that they were continuing to look at developing “new consumer facing products generating new revenue streams.” Release.
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By Joseph Tartakoff
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