eXp World Holdings Completes Acquisition of Zoocasa Realty Inc.

Rhea-AI Summary

eXp World Holdings, Inc. (Nasdaq: EXPI) has successfully acquired Zoocasa Realty Inc., enhancing its online capabilities for lead generation and real estate listings throughout North America. Zoocasa, a Toronto-based real estate brokerage known for its award-winning platform, attracts nearly 12 million annual visits and employs about 150 agents. This strategic acquisition aims to boost eXp Realty's services for Canadian agents and the wider North American market, potentially driving revenue growth and expanding eXp's consumer offerings.

Positive

• Acquisition of Zoocasa expands eXp Realty's lead generation and listings capabilities.
• Zoocasa's platform has close to 12 million annual visits, indicating strong consumer interest.
• Integration expected to enhance service offerings and technology solutions for eXp agents.

Negative

• None.

BELLINGHAM, Wash., July 14, 2022 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty^®, Virbela and SUCCESS^® Enterprises, today announced it has completed its acquisition of Zoocasa Realty Inc. and its key property, Zoocasa.com. The deal will expand eXp Realty’s online lead generation, home search and listings portal capabilities for its agents and brokers as well as for home buying and selling consumers across North America.

Toronto-based Zoocasa is an award-winning consumer real estate search portal and brokerage. It offers an all-in-one intelligent, scalable listings platform that provides a seamless home search experience, deep market insights and a connection to local real estate experts.

“We’re thrilled to officially welcome Zoocasa to eXp Realty,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “This acquisition will provide an immediate and exponential boost to our Canadian agents, as well as to our broader community of agents and real estate customers throughout North America as we look to expand Zoocasa offerings and technology-based solutions.”

Zoocasa was previously owned by its CEO Lauren Haw and a group of investors, who purchased Zoocasa.com from Rogers Communications in 2015. Today, the platform has close to 12 million annual visits and 150 in-house real estate agents.

For more information about eXp World Holdings and its subsidiaries, go to expworldholdings.com.

For more information about Zoocasa Realty Inc., please go to Zoocasa About Us.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty^®, Virbela and SUCCESS^® Enterprises.

eXp Realty is the fastest-growing real estate company in the world with more than 83,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece and New Zealand and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS^® Enterprises, anchored by SUCCESS^® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

About Zoocasa Realty Inc.

Zoocasa is an award-winning brokerage that uses data and technology to deliver an intelligent, end-to-end real estate experience.

Zoocasa’s insights and suite of digital tools, combined with the market expertise of its in-house agents and brokerage team, allows Zoocasa to set a new standard for full-service real estate in Canada. A 3-time winner of both the Financial Times Fastest Growing Companies in the Americas and the Top Growing Companies in Canada by the Globe and Mail, Zoocasa continues to innovate on the home buying, selling and search experience online.

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:

eXp World Holdings, Inc.

mediarelations@expworldholdings.com

Investor Relations Contact:

MZ Group – MZ North America

investors@expworldholdings.com

Zoocasa Realty Inc. - Media Relations Contact:

communications@zoocasa.com

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/9a8b7b9b-6f29-48ac-98d3-4d5570619a99

FAQ

What is the significance of eXp's acquisition of Zoocasa Realty Inc.?

The acquisition enhances eXp's lead generation and listing capabilities in North America, expanding its market presence.

How many visits does Zoocasa.com receive annually?

Zoocasa.com attracts nearly 12 million visits each year.

What strategic benefits does eXp expect from the Zoocasa acquisition?

The acquisition is aimed at providing immediate benefits to Canadian agents and expanding services across North America.

Who previously owned Zoocasa before the acquisition by eXp?

Zoocasa was previously owned by its CEO Lauren Haw and a group of investors.

How will the acquisition impact eXp's operations in Canada?

It aims to provide an exponential boost to eXp's Canadian agents and enhance overall service offerings.