Movoto Real Estate

Movoto Real Estate| Add a Photo

Type

| Private
Industry| Real Estate
Founded| 2005; 20 years ago (2005)
Founder| Henry Shao
Headquarters|

San Mateo, California

Products|

* Real estate search
* Property listing information
* Market insights
* Neighborhood insights
* Nearby points of interest

Website| www.movoto.com

Movoto is the fifth-largest residential real estate search site and brokerage licensed in all 50 states. The platform provides its consumers with real estate search, property listing information, market insights, neighborhood insights, and nearby points of interest.

## History[edit]

Movoto Real Estate was founded in 2005 by Henry Shao in San Mateo, California, where it continues to be headquartered. It was launched as a tool to simplify real estate research and transactions and to make it easier for home sellers to sell their homes. Over time the company acquired brokerage licenses in all 50 states and serves clients via its own brokerage agents as well as partner agents through its agent referral network. Since 2011, Movoto has regularly been featured on the Inc. 5000 list of fastest growing companies.[1]

In 2013, Movoto was acquired by Japanese real estate company Recruit Holdings and Shiro Takeuchi took over as CEO from July 2014 to December 2016.[2] In 2016, they opened their first brick-and-mortar brokerage in Fresno, CA.[3][4] In January 2017, Takeuchi became chairman of the board and Imtiyaz Haque took over as CEO. Haque continues to serve as CEO.

In January 2018, Movoto transitioned out of Recruit Holdings to once again become an independent company. In 2019, Movoto received $8M in funding from Japanese firm Mitsui Fudosan Co. Ltd.[5] Since then, Movoto has increased its focus on technology by building a suite of proprietary real estate tools for its agents, including AI-enabled lead generation and nurturing, research, marketing, and communications tools.

In June 2020, Movoto was acquired by Austin-based OJO Labs, a company that specializes in artificial intelligence-enabled real estate tools for home buyers, sellers, and agents, for an undisclosed sum.[6][7]

## References[edit]

1. ↑ "Inc. 5000". Inc. Magazine.
2. ↑ "Movoto's Tokyo-based buyer intends to make it the No. 1 online real estate service in the U.S." Inman.
3. ↑ "Movoto's Successful Fresno 'Experiment'". The Business Journal.
4. ↑ "Real estate website Movoto opens first brokerage office nationwide in Fresno". Fresno Bee.
5. ↑ "Top listing site Movoto nabs $8M to build on company turnaround". Inman.
6. ↑ "Complete Homebuying, Selling Experience: OJO Labs Raises $62.5M, Acquires Movoto". Crunchbase News.
7. ↑ "Real estate tech startup OJO Labs raises $62.5 million, acquires Movoto". Housing Wire.

## External links[edit]

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