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Announced

Completed

OJO Labs completed the acquisition of Movoto.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

real estate brokerage

Real Estate Services

Single Bidder

Majority

real estate platform

United States

Acquisition

Friendly

Completed

Domestic

Synopsis

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OJO Labs, an Austin-based startup with an AI-powered digital home-buying assistant, completed the acquisition of Movoto, a full-service real estate brokerage that provides customers with search tools and information on top agents. Financial terms were not disclosed. "The Movoto team is as obsessed with consumer experience as we are at OJO Labs. It is the company’s ability to optimize search based on consumer behavior and engagement that has enabled them to compete with three massive, publicly traded companies while steadily gaining market share since 2018. Movoto’s consumer-first search site combined with OJO Labs’ AI advisor marks a completely new experience that will change the way we buy and sell homes forever," John Berkowitz, OJO Labs CEO and Co-Founder.

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