According to an article today by Jessica Swesey at Inman News, ActiveRain has secured $2.75 million in a Series A minority investment from House Values.
House Values has certainly pissed off many real estate agents and brokers over the last few years - including yours truly. They have lost a lot of money (not to mention goodwill and repeat customers) through the way they do business. It’s amazing to me that after all their layoffs, cutbacks and change in business that their investors are allowing them to invest in other (albeit related) sectors.
As far as ActiveRain, I stopped blogging there after they announced a lawsuit against Move.com. (Apparently they were going to sell ActiveRain and all the people who helped build it down the river to the Realtors). I’m pretty sure that I will be deleting my ActiveRain account after this latest news, as I know that I want NOTHING to do with House Values. HV has given the lead generation industry such a bad name, that it has been very difficult for new players with great ideas to get a fair shake from the many agents and brokers who have been burned.
What do you think? Should real estate agents still be supporting ActiveRain after they took investment from House Values?
In the end, this is going to be great news for other Real Estate Networking and Blogging sites like Wanna Network.
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