Investor Presentation

Transcription

1 1 Investor Presentation

2 Agenda Overview Consumer Experience Products for Our Customers Nurture and Facilitate the Close Financials Q & A 2

3 3 Overview

4 Our Goals Win the Hearts & Minds Consumers Exceptional user experiences Customers Products that deliver value & unparalleled customer service Our Partners Interests aligned with our partners 4

5 Online Real Estate Market Leadership Revenue Segments Core Brand 75% ($37m Q3 2012) Tools for Real Estate Professionals 15% ($7m Q3 2012) Niche Verticals 10% ($5m Q3 2012) Rentals 5

6 Online Real Estate Market 4.6m homes x $214k = $1 trillion 5% commission = $50 billion 10% on marketing = $5 billion Less than $1 billion currently spent online 6 Sources: National Association of Realtors (2011); Borrell Associates (2010)

7 Jan- Feb Mar Apr Ma Jun- Jul-10 Aug Sep Oct- Nov Dec Jan- Feb Mar Apr Ma Jun- Jul-11 Aug Sep Oct- Nov Dec Jan- Feb Mar Apr Ma Jun- Jul-12 Aug Sep Jan-10 Feb-10 Mar- Apr-10 May- Jun-10 Jul-10 Aug- Sep-10 Oct-10 Nov- Dec- Jan-11 Feb-11 Mar- Apr-11 May- Jun-11 Jul-11 Aug- Sep-11 Oct-11 Nov- Dec- Jan-12 Feb-12 Mar- Apr-12 May- Jun-12 Jul-12 Aug- Sep-12 Jan Fe Ma Ap Ma Jun Jul- Au Se Oc No De Jan Fe Ma Ap Ma Jun Jul- Au Se Oc No De Jan Fe Ma Ap Ma Jun Jul- Au Se Leading Economic Indicators Housing Market * 3,000,000 For Sale Listings Inventory: U.S. Total 2,500,000 2,000,000 1,500,000 1,000, Median Age of Inventory: U.S. Total $200,000 Median List Price: U.S. Total $150,000 * 7 Realtor.com September 2012

8 8 Consumer Experience

9 Our Core Assets Breadth of Content Data Accuracy Our Partners Our Reach +100m properties ~4m for-sale listings, including International 98% of all existing homes listed for sale 85% updated every 15 minutes, the rest daily National Association of Realtors 850 MLSs +20m unique users, monthly average Product Offering Content to Connection to Close 9 Sources: comscore (2012); Move internal metrics (2012); National Association of Realtors (2011)

10 Leading Consumer Site and Significant Y/Y Growth Unique Users Leads + 15% Y/Y* + 60% Y/Y* *2012 YTD vs YTD Growth Rates Consumer engagement and lead growth continues to outpace Unique User trends. 10 Sources: Move internal metrics (2012)

11 Competitive Landscape comscore Page Views Realtor.com 1.5x Pageviews 500, , , , ,000 0 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Realtor.com (U) Trulia.com (U) Zillow.com (U) Yahoo! Real Estate/Yahoo Homes (U) MSN Real Estate (U) AOL Real Estate (U) 11 Sources: comscore

12 Minutes/Visit Pages/Visit Thousand unique visitors Million pages viewed REALTOR.com has the most highly engaged audience 20,000 15,000 10,000 Total Unique Visitors 16,332 13,661 11, Total Pages Viewed ,000 2,060 1,213 0 Trulia Zillow REALTOR.com Redfin ZipRealty Trulia Zillow REALTOR.com Redfin ZipRealty Average Minutes Per Visit Average Pages Per Visit Trulia Zillow REALTOR.com Redfin ZipRealty Trulia Zillow REALTOR.com Redfin ZipRealty 12 Source: comscoore August 2012

13 Satisfaction (1 = Low, 5 = High) Realtor.com ranked highest in quality of leads and ROI User Satisfaction with Online Real Estate Services Quality of Leads Return on Investment In our survey, 31.5% respondents indicated they are currently a paying subscriber of Move.com/Realtor.com Top Producer compared to 15.2% for Trulia and 11.5% for Zillow. -JP Morgan Equity Research October Source: JP Morgan (n=349)

14 Consumers use Realtor.com the most to find available properties What Did You Do on [Trulia/Zillow/REALTOR.com]? Checked value of my home or another home Found available properties Found information about a neighborhood Read user-generated content (e.g., local Q&A, reviews) Contacted an agent Other (please specify) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Percent of Respondents REALTOR.com Zillow Trulia 14 Source: RBC Capital Markets Proprietary Survey of 1,109 Respondents via SurveyMonkey

15 Realtor.com is seen as Credible and Trustworthy by Consumers Site Values: Satisfaction (stated)* Credible 77% 50% 51% Comprehensive 66% 61% 53% Useful 64% 65% 60% Professional 68% 52% 53% Trustworthy 70% 49% 47% % = agree to strongly agree that the site meets the need * Move proprietary customer survey July CREDIBLE TRUSTWORTHY COMPREHENSIVE

16 16 Realtor.com

17 Consumers Trust Our Listings Where Other Sites Listings Come From Where REALTOR.com Listings Come From Agents, Brokers, Duplicative Not well filtered Content not updated No quality control Agents & Brokers Accurate Current Listings updated every 15 minutes 17

18 18

19 Millions of Users of Our Mobile Apps ipad +125% Y/Y homes-for-sale viewed +200% Y/Y photos viewed +150% Y/Y mobile leads Mobile users submit 6x more leads than web users Sources: Move internal metrics (Q vs. Q3 2011) 19

20 Collaborative Search FREE Agent Mobile App Agent View 20

21 21 Collaborative Search Homebuyer s View

22 REALTOR.com Products Showcase Enhanced listings sold on a subscription basis Co-Broke Connection Lead generation for buyers agents PreQualplus Multi-partner mortgage platform ListHub Dynamic and automated syndication of listings Featured Products Listing merchandising, lead-gen and display advertising Media Display ads sold on a CPM basis to non-endemic advertisers 22

23 Showcase SM Enhanced Listings for Agents and Brokers Approximately 50% of all listings are enhanced Allows Agents to connect with potential homebuyers Allows the agent and broker exclusive branding on their listing 23 Sources: Move internal metrics (2012)

24 Co-Broke Connection Increasing Site Monetization Approximately 50% of all listings are not enhanced Allows Buyers Agents to connect with potential home buyers Does not brand buyer s Agent on other Agent s listing 24 Sources: Move internal metrics (2012)

25 25 Co-Broke Connections on Mobile

26 26 Nurture and Facilitate the Transaction

27 Top Producer An Integrated Solution REALTOR.com mobile Consumer has a variety of search options including open house Consumer signs up with BrightOpen TM Market Snapshot is generated Captured in TP CRM 27

28 TigerLead dramatically improves the conversion process Lead Generation Lead Cultivation Lead Management 28 28

29 29 Future Growth and Financials

30 Focused on Costs and Efficiency Now on Growth ($ in millions) $55 Revenue Core Expenses Adjusted EBITDA % Y/Y Q4 12 $16 $50 $12 $45 $8 $40 $4 $35 Adjusted EBITDA 2 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12* 11.0% 12.5% 11.8% 18.2% 11.3% 13.9% 13.9% 14.8% $0 1 Excludes all stock-based and non-recurring charges 2 Adjusted EBITDA is earnings from continuing operations before interest, taxes, stock-based compensation and related charges, depreciation, amortization and other non-recurring charges *Q4 12 based on mid-point of guidance 30

31 Q3 Financials ($ in millions) Total Revenue & Adj. EBITDA $35.5 Revenue by Category $34.1 $37.2 $50 $50.3 $49.4 $7.0 Q3'10 Q3'11 Q3'12 $46.5 $9.2 $7.5 $7.4 $45 $6.0 Q3'10 Q3'11 Q3'12 Niche Verticals $5.5 $4.9 $4.9 $40 $5.0 Q3'10 Q3'11 Q3'12 Revenue Adjusted EBITDA Q3'10 Q3'11 Q3'12 31

32 Full Year Financials ($ in millions) Total Revenue & Adj. EBITDA $138.9 $141.4 Revenue by Category $148.5 $200 $198 $192 $ (E) * $28 $180 $37.2 $30.8 $29.6 $160 $ (E) * Niche Verticals $21.3 $19.6 $20.4 $ (E) * Revenue Adjusted EBITDA $ (E) * 32 *2012 Estimates represent mid-point of guidance

33 Strong Balance Sheet ($ in millions) As of September 30, 2012 Assets Liabilities Cash & Equivalents $ 30.9 Deferred Revenue $ 8.7 Other Current Assets 19.3 Other Current Liabilities 23.1 Property and Equipment, Net 20.0 Non-current Liabilities 3.1 Investment in Unconsolidated JV 5.4 Series B Convertible* 0.0 Other Long Term Assets 53.3 Stockholder s Equity 94.0 Total Assets $ Total Liabilities and Stockholder s Equity $ *Series B redeemed April

34 Future Growth Single Realtor.com brand Performance Strategic products increase as percent of the mix partnerships to extend and enhance data and coverage Broaden distribution through mobile and syndicated offerings Integration of Top Producer with Realtor.com and other B2B Accelerate entry into rentals and mortgage Enhance consumer experience Migration of ad dollars online 34

35 35 Questions?

36 Connecting Consumers and Real Estate Pros Huge market spend moving online Pioneer and largest player in online real estate Dominant traffic and audience engagement Robust national and local sales capabilities Deepest Real Estate industry relationships Strategic investments creating growth opportunities Strong management team and balance sheet 36

37 Thank you Contact information: Steve Berkowitz Chief Executive Officer Rachel Glaser Chief Financial Officer Move, Inc. 910 East Hamilton Avenue, Campbell, CA