Thursday, March 22, 2012
eBay Sells Rent.com
One of Southern California's big startup successes--Rent.com--which was sold to eBay back in 2004, has just been sold again. eBay said Thursday that it has sold Rent.com to PRIMEDIA, the publisher of apartment and rental home information and listings. Financial terms of the deal were not announced. The firms said the move would help PRIMEDIA bolster its apartment and rental home resources, which also include ApartmentGuide.com, Rentals.com and RentalHouses.com. Rent.com was one of the biggest exits out of Southern California in the early 2000's, selling for $415M. The sale to eBay had been a big win for Allegis Capital, Bank of America Venture Partners, Insignia Financial, Kline Hawkes, Rosewood Capital, and Thomas Weisel Partners.