Zillow Group

Top US Technology Company

Zillow Group

1301 2nd Ave, Seattle, WA 98101

Online real estate marketplace for buying, selling, and renting.

About Zillow Group

Washington – United States – 5500 Employees

Website: zillow.com
Stock Symbol: Z
Industry SIC Code: 7374

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Annual Revenue: 2.6B

Zillow Group – A Comprehensive Overview

Company Overview

Zillow Group, Inc., founded in 2006 by Rich Barton and Lloyd Frink, is a leading online real estate marketplace that offers a comprehensive platform for buying, selling, renting, and financing homes. Headquartered in Seattle, Washington, Zillow operates a family of real estate brands, including Zillow, Trulia, StreetEasy, and HotPads. The company’s mission is to empower consumers with information and tools to make smart decisions about real estate. Zillow is a dominant force in the U.S. real estate market, providing data, listings, and resources for consumers, real estate professionals, and property managers.

Financial Data

For fiscal year 2023, Zillow Group reported annual revenue of approximately $2 billion, driven by its core segments: IMT (Internet, Media & Technology) and Homes. Revenue primarily comes from advertising and services for real estate professionals, as well as mortgage lending and title services. Zillow’s financial performance has been supported by its strong brand presence and digital platform, which attracts millions of users each month. The company continues to focus on profitability and growth in its core businesses, after winding down its Zillow Offers iBuying service in 2021.

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Company Size and Structure

Zillow Group employs over 5,000 people across its offices in Seattle, New York City, San Francisco, and other major cities. The company is structured into three main business segments:

IMT: Includes premier agent advertising, rentals, and mortgages.
Homes: Focuses on Zillow’s marketplace for buying and selling homes, as well as title services.
Mortgages: Includes mortgage origination services through Zillow Home Loans.
Zillow’s structure allows it to operate a diverse real estate marketplace while focusing on the seamless integration of home buying, renting, and financing solutions.

Key Decision-Makers and Contacts

Rich Barton, Co-Founder and CEO: Oversees the company’s strategy, with a focus on innovation and digital transformation in real estate.
Jeremy Wacksman, President: Drives Zillow’s product and marketing strategies to enhance user experiences.
Allen Parker, CFO: Manages financial operations and corporate development.
Susan Daimler, President of Zillow: Leads the company’s real estate and rental marketplace, focusing on expanding Zillow’s influence in the real estate industry.
This leadership team is focused on leveraging technology to enhance Zillow’s offerings and position it as the go-to platform for home buyers, sellers, and renters.

Market Position

Zillow is the largest real estate marketplace in the U.S., with more than 240 million monthly unique visitors across its suite of brands. The company’s platform dominates the online real estate market, driven by its rich data, user-friendly interface, and comprehensive listings. Zillow holds a leadership position in both the home search and rental space, offering a wide range of resources for buyers, sellers, renters, and real estate professionals. Its focus on integrating real estate, mortgage services, and technology positions Zillow as the most comprehensive real estate platform in the U.S.

Products and Services

Zillow Group offers a wide range of products and services across its platform:

Zillow Real Estate: Provides home listings, home value estimates (Zestimates), and neighborhood insights.
Zillow Rentals: Helps property managers and renters connect, with tools for listing, marketing, and tenant screening.
Zillow Premier Agent: A program that allows real estate agents to advertise on Zillow and connect with potential buyers and sellers.
Zillow Home Loans: A mortgage origination service offering home loans and refinancing options.
Zillow Offers (Discontinued): Previously a home-buying program where Zillow would directly purchase and sell homes.
Trulia: A real estate search platform offering listings and insights with a focus on neighborhood data.
StreetEasy: A real estate platform focused on the New York City market, providing hyper-localized listings and data.
HotPads: A platform focused on helping renters find apartments and homes.

Digital Presence

Zillow maintains a dominant digital presence through its website and mobile apps, which serve as the primary tools for millions of users to browse home listings, find rentals, and research real estate markets. Zillow’s app is among the most downloaded in the real estate category, providing users with access to real-time listings, mortgage calculators, and personalized recommendations. Zillow also leverages social media platforms, including Facebook, Instagram, and Twitter, to engage with users and share content related to home buying, market trends, and lifestyle tips. WA Zoominfo Pricing.

Technological Infrastructure

Zillow’s platform is built on a robust cloud infrastructure, enabling the company to deliver real-time updates, handle massive data loads, and provide personalized experiences for users. Zillow employs artificial intelligence (AI) and machine learning (ML) technologies to improve home value estimates (Zestimates) and predict market trends. The company uses advanced data analytics to enhance its mortgage services, helping buyers find the best financing options. Zillow’s investment in data science and engineering ensures its platform remains a reliable and efficient tool for home buyers, sellers, and renters.

Company Culture

Zillow fosters a culture of innovation, inclusion, and flexibility. The company promotes a positive work environment where employees are encouraged to collaborate, think creatively, and contribute to the company’s mission of transforming real estate. Zillow’s commitment to diversity, equity, and inclusion (DEI) is evident through its hiring practices and internal initiatives aimed at creating a more inclusive workplace. The company offers flexible work options, including remote and hybrid roles, to ensure work-life balance for its employees.

Industry and Regulatory Compliance

Zillow operates in a highly regulated industry, particularly with its mortgage services and real estate transactions. The company complies with federal, state, and local regulations related to real estate advertising, mortgages, and fair housing practices. Zillow’s mortgage division adheres to industry standards such as RESPA (Real Estate Settlement Procedures Act) and TILA (Truth in Lending Act). The company prioritizes data privacy and security, ensuring compliance with regulations such as GDPR and CCPA, protecting users’ personal information.

Partnerships & Affiliations

Zillow has established partnerships with major real estate firms, financial institutions, and data providers to enhance its platform. Partnerships with MLS (Multiple Listing Service) organizations allow Zillow to access and display accurate real estate listings across the U.S. The company also collaborates with lenders and mortgage brokers through its Zillow Home Loans and Premier Agent programs. These partnerships help Zillow provide end-to-end services for home buyers, from browsing listings to securing financing.

Public Relations & Media

Zillow is frequently featured in major media outlets for its influence on the real estate market and innovations in home buying and selling. The company’s Zillow Home Value Index and Zestimates are widely cited by economists, real estate professionals, and news organizations for insights into the housing market. Zillow’s annual Consumer Housing Trends Report also garners attention for its in-depth analysis of buyer, seller, and renter behaviors. Zillow’s public relations efforts emphasize its role in making real estate more accessible through technology and data-driven solutions.

Competitive Landscape

Zillow faces competition from other real estate platforms, including Realtor.com, Redfin, and Opendoor. Realtor.com offers similar home listing services, while Redfin provides a mix of listings and real estate brokerage services. Opendoor competes with Zillow in the iBuying market, though Zillow has exited this space. Despite the competition, Zillow’s vast user base, strong brand recognition, and comprehensive suite of services across real estate and mortgage products give it a competitive advantage in the U.S. market.

Stock Market Information

Zillow Group is publicly traded on the Nasdaq under the ticker symbols ZG (Class A shares) and Z (Class C shares). The company’s stock performance has been influenced by trends in the housing market, particularly during periods of strong real estate demand or economic uncertainty. Zillow’s decision to discontinue its iBuying service in 2021 impacted its stock but allowed the company to focus on its more profitable segments, such as Premier Agent advertising and mortgage services. Investors view Zillow as a long-term player in the digital transformation of real estate.

Market Activity for Zillow Group

Customer Base and Reviews

Zillow serves a wide customer base that includes home buyers, sellers, renters, real estate professionals, and property managers. The platform is particularly popular among first-time homebuyers and renters looking for easy access to real estate data and listings. Real estate agents and brokers use Zillow’s Premier Agent program to generate leads and connect with potential clients. Customer reviews highlight Zillow’s comprehensive data and user-friendly platform, though some users have noted inconsistencies in home valuations (Zestimates) and a desire for improved accuracy in rental listings.

Summary of Zillow Group

Zillow Group is the leading online real estate marketplace in the U.S., offering a comprehensive platform for home buyers, sellers, renters, and real estate professionals. With a strong focus on technology, data, and user experience, Zillow has transformed how consumers interact with real estate, providing valuable tools and resources for decision-making. The company’s exit from the iBuying market allows it to focus on its core strengths, including advertising, mortgage services, and rentals. As Zillow continues to innovate and expand its offerings, it remains well-positioned to drive growth and shape the future of real estate.

This comprehensive overview provides sales, marketing, and research professionals with valuable insights into Zillow Group’s market position, financial performance, and growth strategy.

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