Terabitz Launches to Offer Integrated Solution for All Things Real Estate

Comprehensive and Customizable Real Estate Web Site Helps Consumers Make

the Right Move

    PALO ALTO, Calif., July 17 /PRNewswire/ -- Every now and then consumers
 are introduced to a product that fundamentally changes the rules, rendering
 all prior offerings insufficient or even obsolete. Consider what iTunes has
 done for music, TiVo for television, or eBay for auctions, to name a few.
 Today, Terabitz (http://www.terabitz.com) introduces the first
 comprehensive and customizable real estate Web site that changes the online
 real estate industry by helping consumers make smart decisions before,
 during, and after a property transaction in ways never before possible.
     Anyone who has ever purchased a home, searched for a rental property,
 or tried to find expertise in all of the services accompanying these
 efforts knows that the process is extremely complicated, and information is
 inconsistent, fragmented and difficult to organize. To date, no company has
 been able to bring together all of the information, all of the resources,
 and all of the tools under a single umbrella -- until now. By providing a
 central location for all real estate explorations, Terabitz is the first
 real estate Web site designed to help consumers before, during, and after
 their home purchase.
     "Moving to a new home or apartment is one of the biggest decisions a
 person can make in their lifetime, but most online real estate sources
 today provide only one piece of the puzzle," said Ashfaq Munshi, CEO of
 Terabitz. "Fundamentally, there is more to a home purchase than valuation
 and square footage and more to an apartment than the monthly rent. People
 need an easy way to manage the dozens of sources of information that
 comprise a move. Companies such as Zillow have attempted to solve this
 problem, but offer only single, narrow solutions."
     Terabitz realizes that every home exploration is unique. That is why
 every user can customize, store, and share their real estate data and
 content to fit their own personal needs. Terabitz enables more than just a
 single comprehensive source for property listings -- it also allows
 integration of unlimited local neighborhood information, market research,
 schools, restaurants, crime and safety statistics, service providers,
 financial tools, and more. Every category of information is available in
 one place and is all customizable, via simple drag and drop technology, for
 every step of the process.
     "I've had the opportunity to preview dozens of real estate Web tools
 over the past five years. While existing offerings have proven to offer
 great utility to housing consumers and professionals alike, few have hit
 the nail on the head as the new offering from Terabitz," said Steve Murray,
 Co-Editor of REAL Trends. "Terabitz is very easy to use and allows
 consumers to view multiple real estate sites and related community data
 simultaneously, and with automatic updating. I am not aware of any
 comparable utility on any other Web sites available at this time."
     The technology behind Terabitz aggregates a broad array of the most
 authoritative content and data across the Web, making it available to home
 shoppers in a single location. Content sources include comprehensive maps
 from Google Maps; current open homes from multiple sources; local
 information from Craigslist and much, much more.
     Additionally, Terabitz provides a platform and community where users
 can share all of the relevant preferences and information amongst
 themselves, their friends and family, and the local market service
 providers that are helping them through the process. The unique Snapshots
 feature lets home buyers share their new home preferences and requirements
 with others in ways that truly enhance the way real estate works today.
 Changing your address -- be it a new home or apartment -- is hardly ever a
 solo experience. Being able to share information with friends and family
 adds another level of convenience to the moving process.
     "Terabitz takes a great deal of pride in being able to provide the
 definitive, customizable platform for a consumer's every real estate need,"
 added Munshi. "To examine real estate across multiple dimensions, to place
 that property in the larger context of the surrounding area, to provide the
 tools to make the process one that can be easily shared, and to create a
 sense of community around that property are all fundamental to our goals."
     Throughout the year, Terabitz will be announcing an impressive array of
 partnerships as the industry moves to adopt and support this innovative
 consumer advocacy approach.
     Terabitz Executive Team
     The Terabitz executive team is comprised of experienced technology and
 real estate professionals. The company was initially conceived in 2005 by
 then 15-year-old Kamran Munshi. Kamran immediately began collaborating with
 his father, Ashfaq Munshi, former CEO of Level 5 Networks and founder of
 four other Silicon Valley companies including Radiance, Vivecon,
 SpecialtyMD, and Commerce Engine and now CEO of Terabitz. Kamran Munshi is
 currently CTO at Terabitz. The Munshi's worked together to develop a
 business idea and hired a team of engineers to build the product. Kamran
 and Ashfaq are joined by Kevin Akeroyd, VP of Marketing and Business
 Development who was a former General Manager of Mortgage at HouseValues,
 Chris Kosloski, VP of Sales who was a former VP of Sales at Move.com, and
 Travis Chow, VP of Product Management, and founder of Neighboroo.
     About Terabitz
     Terabitz is the most complete resource online in the real estate
 industry for consumers evaluating a real estate transaction and a
 definitive "home page" that provides everything in one place. Terabitz is a
 destination that is comprehensive, objective and easy to use. Property
 listings, neighborhood highlights, local market data, and local service
 providers can be accessed, stored, and shared with friends and family, as
 well as real estate agents and other providers. The platform is flexible,
 fun, and helps every consumer make smart decisions before, during, and
 after the property transaction. Palo Alto, California-based Terabitz was
 founded in 2006 by father and son Ashfaq and Kamran Munshi. The father and
 son duo successfully raised $10M in a series A round from Tudor Capital,
 part of the Tudor Hedge Fund family. For more information, please visit
 http://www.terabitz.com.
 
 

SOURCE Terabitz