TRULIA BUILDING IPO-READY MANAGEMENT TEAM WITH COO AND PRESIDENT APPOINTMENTS
Silicon Valley Veteran Paul Levine Joins as COO; Co-Founder Sami Inkinen Appointed President
SAN FRANCISCO, February 14, 2011 – Reflecting its outstanding growth and expansion during the last two years, Trulia.com, a leading site for real estate professionals, homebuyers, sellers and renters, today announced two key appointments that will strengthen the management team significantly. Paul Levine, formerly president of Digital at Current TV, joins Trulia as chief operating officer, and co-founder Sami Inkinen assumes the new role of president.
As COO, Levine will lead the Consumer Services and Business Services divisions of Trulia. Levine brings 15 years of consumer internet experience, along with a proven track record of building local online businesses and driving operational excellence. At Current TV, Levine significantly grew the company’s online audience and accelerated its revenue growth. Prior to Current TV, Levine was VP and GM of Local at Yahoo!, where he built Yahoo! Local to an industry-leading local search and content property, and grew local advertising into a $100M business. Levine also held senior management positions at AdBrite and E*TRADE and serves on the Board of Directors of local events publisher Zvents.
As a co-founder of Trulia, Inkinen has been instrumental in growing the company from its inception to its current status as a category leader. As president, Inkinen will shift his focus to building new areas of Trulia’s business that have been identified for strategic growth, including mergers and acquisitions, partnerships and overall business growth.
“Paul’s consumer internet experience and local advertising background, combined with Sami’s keen focus on strategic growth and building new businesses, will help us become the category leader and continue transforming the online real estate experience,” said Pete Flint, CEO and co-founder of Trulia. “We’ve doubled the size of our business in the last 12 months, and with this strengthened management team we are positioned to continue growing rapidly, be more innovative and scale faster than ever before.”
“I first met Pete more than five years ago and I have been tracking Trulia’s success since it launched. With its innovative consumer tools, rich local pricing data and unmatched network of real estate professionals, Trulia is genuinely reshaping the way the Web handles real estate,” said Paul Levine, COO of Trulia. “Local advertising is a $100B US market, and real estate and home-related services represents one of the market’s largest segments. I’m excited to help Trulia continue to create innovative services to penetrate the vast local online ad market, build the company’s consumer audience, and deliver services designed to help real estate professionals reach their local audiences.”
“After several years of rapid growth in our core business, we realized it was necessary to expand our management team and create an Office of the President in order to focus on corporate strategy and new growth initiatives,” said Sami Inkinen, President and co-founder of Trulia. “I’m thrilled to have Paul on board and to be working alongside a Silicon Valley veteran of his caliber, who understands the massive local advertising opportunity and is passionate about building new services.”
In the past year, Trulia doubled both revenues and its employee base; acquired Movity; moved into a new 30,000 square foot headquarters in downtown San Francisco and opened a 16,000 square foot office in Denver. Trulia also added two executives in 2010: Georg Gerstenfeld, vice president of Business Services and Eric Oldfield, vice president of Advertising Sales and Operations.
In January 2011, more than 11 million unique visitors counted for more than 20 million visits to Trulia with the website averaging almost 100,000 property views per minute. Year-over-year (y-o-y) growth figures include:
About Trulia, Inc.
Trulia.com is the fastest growing online real estate site focused on empowering buyers, sellers and renters with smarter tools to help you find the right home. Trulia is headquartered in downtown San Francisco and is backed by Accel Partners and Sequoia Capital. Trulia is focused on helping you find the home that truly meets your needs, and delivers on what’s most important for you. Ultimately, we built a smart real estate search experience bringing together local information, community insights, market data and national listings all in one place.
Michael Altfest, 415-486-3244, Michael.Altfest@Edelman.com