…away from the fact that it is a bit baffling that HouseValues went the VC route when their financial troubles run deep enough that they laid off another 45 people and the CFO resigned…
While HouseValues is not the only company in the real estate industry that is being hit with the market downturn, the company is in a good financial position to weather the storm better than most.
The layoffs reflect a smaller subscriber base and saving about $5M a year.
The recent $10M acquisition of http://www.realtygenerator.com/
with broker accepted features like Client IDX Website & Ad Management; Realtor CRM (Customer Relationship Manager) and a Broker Monitoring System
along with the VC type investment into Active Rain suggest HouseValues is using it’s $70M in cash reserves to re-gigger its business model.