Friday, July 15, 2011 9:50:52 AM
Zillow, which initially filed its S-1 in April, currently lists over 100 million U.S. homes, including homes for sale, homes for rent and homes not currently on the market. Zillow launched a mortgage marketplace in 2008, and subsequently expanded into rentals and mobile.
The company’s traffic to its web and mobile sites is up 100 percent year-over-year and in May 2011, Zillow was used on a mobile device more than 8.8 million times, with more than 1.7 million homes viewed on mobile devices each day.
For the years ended December 31, 2008, 2009 and 2010, the company generated revenues of $10.6 million, $17.5 million and $30.5 million, representing year-over-year growth of 49%, 65% and 74%, respectively. And during the three months ended March 31, 2011, Zillow generated revenue of $11.3 million, as compared to $5.3 million in the three months ended March 31, 2010, an increase of 111%. Unfortunately, in terms of income, Zillow has been taking a loss for the past three years.
The company lost $12.8 million in 2009, and lost roughly half of that ($6.7 million) in 2010. The company, which launched to the public in 2006, also revealed that as of December 31, 2010, it has an accumulated deficit of $78.7 million. In the three months ended March 31, Zillow lost $826,000.
According to Experian Hitwise, Zillow.com is the third most visited Real Estate site in the U.S and received 5.36% of Real Estate visits in March 2011, which is a 53% increase compared to March 2010.
It should be interesting to see how Zillow will perform on the public markets. Some tech companies like HomeAway, Fusion-IO and Yandex have seen steady share values, whereas Pandora and LinkedIn saw huge fluctuations in share price. And the fact that Zillow hasn’t made a profit yet could influence this.
Recent Z News
- Move over, gyms and pools: Renters want pet areas and happy hour • PR Newswire (US) • 09/19/2024 12:00:00 PM
- Investors Anticipate Retail Sales Data and Fed Decision; Oil Prices Dip as Investors Weigh U.S. Production • IH Market News • 09/17/2024 10:42:43 AM
- Mortgage payments fall lower than rent in 22 of the 50 largest US metros • PR Newswire (US) • 09/16/2024 11:30:00 AM
- Rate drops, more inventory add intrigue to housing 'offseason' • PR Newswire (US) • 09/12/2024 09:00:00 AM
- Zillow's AI-powered home search gets smarter with new natural language features • PR Newswire (US) • 09/04/2024 01:00:00 PM
- Zillow Group to present at Goldman Sachs Communacopia + Technology Conference • PR Newswire (US) • 09/03/2024 08:05:00 PM
- Nick Bailey Joins T3 Sixty as Chief Real Estate Officer • PR Newswire (US) • 08/29/2024 03:00:00 PM
- Affordable renter-friendly home improvements that add value • PR Newswire (US) • 08/28/2024 12:00:00 PM
- Zillow Group hires Soumya Tulloss as senior vice president of agent sales • PR Newswire (US) • 08/22/2024 08:05:00 PM
- Sellers lose their advantage, but lower rates may revive housing market competition • PR Newswire (US) • 08/15/2024 12:00:00 PM
- One-third of property managers are offering concessions as rental market cools • PR Newswire (US) • 08/12/2024 12:03:00 PM
- Bumble Plunges 36% on Weak Revenue; Warner Bros. Reports Significant Loss; Digital Turbine Surges 18%, and More in Earnings • IH Market News • 08/08/2024 09:53:55 AM
- Zillow Group Reports Second-Quarter 2024 Financial Results • PR Newswire (US) • 08/07/2024 08:05:00 PM
- Zillow Group Promotes Jeremy Wacksman to CEO • PR Newswire (US) • 08/07/2024 08:05:00 PM
- Luxury home values are rising faster than typical homes for the first time in years • PR Newswire (US) • 07/31/2024 12:00:00 PM
- A $1 million starter home? It's the norm in 237 cities • PR Newswire (US) • 07/25/2024 12:03:00 PM
- Top 10 No-Demo Renovation Projects of 2024 • PR Newswire (US) • 07/23/2024 12:00:00 PM
- Zillow Group to Announce Second-Quarter 2024 Results Aug. 7 • PR Newswire (US) • 07/16/2024 08:05:00 PM
- Nearly 1 in 4 sellers cut home prices as inventory grows • PR Newswire (US) • 07/16/2024 12:00:00 PM
- Rents are growing fastest in unexpected places, led by Hartford and Cleveland • PR Newswire (US) • 07/10/2024 12:00:00 PM
- To afford a monthly mortgage payment, middle-class Americans need to put more than $127,000 down • PR Newswire (US) • 06/20/2024 12:00:00 PM
- The U.S. is now short 4.5 million homes as the housing deficit grows • PR Newswire (US) • 06/18/2024 12:03:00 PM
- Homeowners list while buyers hang back, pushing inventory higher • PR Newswire (US) • 06/12/2024 12:00:00 PM
- Phoenix is named Zillow's best market for the class of 2024 • PR Newswire (US) • 05/30/2024 12:05:00 PM
- Black homeownership rate rises, but hasn't returned to 2004 level • PR Newswire (US) • 05/29/2024 12:00:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM