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Zillow
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
Rich Barton conceived of Zillow while at Microsoft, where he founded Expedia.com. Barton believed that a consumer-facing site could transform the real estate industry in the same way that Expedia had the travel industry. Barton told the Seattle Post-Intelligencer, "the web [had] been around for now 9 years or 10 years, but still I couldn't get pictures of homes and complete listings and prices and addresses." "We were trying to answer a simple question. What is that house worth? What should we offer if we wanted to buy it?"
In December 2004, Zillow was incorporated in Washington. Barton and co-founder Lloyd Frink, a former Expedia executive, self-funded the company, which operated out of a downtown Seattle office with 20 employees.
Zillow's website was launched on February 8, 2006, and included a home-valuation tool that anyone could use. Other features at the time included information about home sale history and charts and graphs comparing home value appreciation with other towns or states. The site crashed on the morning it launched because its servers were unable to handle the volume of traffic.
In July 2006, Zillow announced a $25 million second-round investment. By then the company had grown to 118 employees. In December of that year, the Zillow website included features allowing users to put homes for sale online.
In April 2008, Zillow launched a mortgage marketplace. Later that month, the Zillow iPhone app was released. Apps for Android and Windows Mobile soon followed.
In 2010, Zillow became profitable for the first time. In September of that same year, Spencer Rascoff was named CEO of the company. Rascoff was formerly Zillow's COO and VP of marketing, and before that had been at Expedia. Rich Barton stayed as executive chairman.
Rascoff has previously expressed a desire for Zillow to go public. On April 18, 2011, Zillow filed for a $51.8 million initial public offering. On July 20, the company began trading under the symbol “Z” on the Nasdaq stock market.
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Zillow
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
Rich Barton conceived of Zillow while at Microsoft, where he founded Expedia.com. Barton believed that a consumer-facing site could transform the real estate industry in the same way that Expedia had the travel industry. Barton told the Seattle Post-Intelligencer, "the web [had] been around for now 9 years or 10 years, but still I couldn't get pictures of homes and complete listings and prices and addresses." "We were trying to answer a simple question. What is that house worth? What should we offer if we wanted to buy it?"
In December 2004, Zillow was incorporated in Washington. Barton and co-founder Lloyd Frink, a former Expedia executive, self-funded the company, which operated out of a downtown Seattle office with 20 employees.
Zillow's website was launched on February 8, 2006, and included a home-valuation tool that anyone could use. Other features at the time included information about home sale history and charts and graphs comparing home value appreciation with other towns or states. The site crashed on the morning it launched because its servers were unable to handle the volume of traffic.
In July 2006, Zillow announced a $25 million second-round investment. By then the company had grown to 118 employees. In December of that year, the Zillow website included features allowing users to put homes for sale online.
In April 2008, Zillow launched a mortgage marketplace. Later that month, the Zillow iPhone app was released. Apps for Android and Windows Mobile soon followed.
In 2010, Zillow became profitable for the first time. In September of that same year, Spencer Rascoff was named CEO of the company. Rascoff was formerly Zillow's COO and VP of marketing, and before that had been at Expedia. Rich Barton stayed as executive chairman.
Rascoff has previously expressed a desire for Zillow to go public. On April 18, 2011, Zillow filed for a $51.8 million initial public offering. On July 20, the company began trading under the symbol “Z” on the Nasdaq stock market.
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