Rocket, the parent company of Rocket Mortgage, has announced its acquisition of Redfin in an all-stock deal. The leaders of both companies, Varun Krishna and Glenn Kelman, articulated a shared vision for transforming the home-buying process by integrating technology that streamlines the buying and financing stages. Redfin, known for featuring over a million properties and providing broker refunds, will continue to operate under Kelman's leadership. The deal is anticipated to close later this year, signaling a strategic move towards enhancing customer experiences in real estate.
"Rocket and Redfin have a unified vision of a better way to buy and sell homes," Varun Krishna, CEO of Rocket Companies, said in a news release.
"Rocket and Redfin's approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical," Kelman said.
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