The two most popular real estate search sites are now under one roof since Zillow closed the Trulia acquisition deal after closing bell on Tuesday. Zillow shares surged more than 10 percent on Wednesday mostly on the news of cost-cutting.
Zillow CEO Spencer Rascoff told CNBC's "Squawk Alley" on Wednesday that "we are well positioned as the $13 billion of real estate advertising migrates on to the Internet."
"The synergy potential here is significant," he added. "There will be significant cost savings as a result of that."
He said that so far the two companies represent only 5 percent of the "tens of billions of dollars in real-estate related advertising."