Who owns Zillow? Zillow is a publicly traded company, so there is no way to name the company’s sole owner or what is Zillow main shareholder. The company was founded by Richard N. Barton and Lloyd D. Frink in 2006 and went public in 2011. Among shareholders are individual investors, investment firms, and mutual funds. The company’s founders and top executives also hold a significant number of shares.
Currently, the company is listed on NASDAQ under the ticker symbol “ZG”. Since 2015, Zillow has been a part of Zillow Group Inc., which has acquired other real estate companies since its launch. So, there is no definite answer to the question, “Who is the owner of Zillow?”.
Company History
Zillow is a real estate marketplace company that provides a comprehensive platform for buying, selling, renting, or financing homes. Zillow history started when it was founded by two former Microsoft executives and founders of travel technology company Expedia. In 2004, Richard Barton and Lloyd Frink, unsatisfied with their own home-buying experience, decided to make this process more efficient with technology, the same as they did with the travel industry. At that time, there were not many types of real estate software available, so Zillow’s approach and methodology became revolutionary.
The website became active in February 2006. The core feature at launch was the Zestimate algorithm. This automated valuation model was able to accurately estimate the market value of homes clients were interested in and help them understand the potential worth of properties they are interested in or already own. Zestimate gathered and processed data from various sources, including square footage, number of bedrooms, sales history, property location, and market trends.
Property Valuation
Initially, Zillow focused on property valuation and historical data analysis. Quickly, the platform expanded its services for real estate professionals. In December 2006, users could list homes without traditional agents.
Remarkably, Zillow launched its mobile app in 2008 alongside the Mortgage Marketplace. Subsequently, potential buyers received direct loan quotes from lenders. The company went public in 2011, raising $69.2 million for further expansion.
By 2012, Zillow introduced the Premier Agent program for real estate professionals. Moreover, the company acquired multiple platforms like HotPads and StreetEasy. These strategic moves created the comprehensive Zillow Group.
In 2016, Zillow Rental Manager replaced the existing property management system. Furthermore, Zillow Offers emerged in 2018 as a direct home-buying program. The following year, Zillow Home Loans provided direct mortgage services to users.
Virtual Tours
During the COVID-19 pandemic, Zillow quickly adapted with virtual tours and remote work. Subsequently, the company shut down Zillow Offers in 2021 due to financial challenges. Moreover, leadership trimmed the workforce by 25% in the home-buying department.
Strategically, Zillow redirected its focus to core services like mortgages and property valuation. In 2022, the company unveiled ambitious plans for a housing super app. Furthermore, they committed to integrating artificial intelligence and machine learning.
Their new strategy aims to create a comprehensive platform for home transactions. Additionally, Zillow will enhance search functionalities and personalize user experiences. Today, the company generates revenue through three primary channels: mortgages, rental listings, and Premier Agent advertising.
Ultimately, Zillow has revolutionized real estate technology multiple times. Indeed, the company continues to innovate and transform the digital real estate marketplace.
Who was the original founder?
Zillow founder is Richard N. Barton, also known as Rich Barton. He was born and raised in Connecticut and, in 1989, graduated from Stanford University with a degree in Industrial design. In 1991, Barton began to work for Microsoft as a product manager, his first project being MS-DOS 5.0.
In 1994, Rich Barton pitched the idea of an online travel booking service to Microsoft leadership and later founded Expedia. He brought the company public in 1999 and resigned as CEO in 2003 after Expedia’s acquisition for $3.6 billion. After this, Richard took a year-long hiatus, and then he co-founded Zillow with former Expedia senior vice president Lloyd Frink. They also bring several former colleagues from Microsoft, many of whom are still top executives or board members at Zillow.
While serving as CEO for Zillow, Rich Barton also co-founded the career community platform Glassdoor in 2007. He remained a board member until the company acquisition in 2018 for $1.2 million. Also, Richard N. Barton has served as a board member for Netflix since 2002 and Qurate Retail since 2016.
Zillow Executive Chairman
Zillow’s leadership journey began with Rich Barton stepping down as CEO in 2010. Simultaneously, Spencer Rascoff took the helm as the new chief executive. Remarkably, Rascoff accelerated the company’s growth through strategic acquisitions. Consequently, he transformed Zillow into a robust real estate technology group.
However, Zillow Offers struggled to maintain consistent performance. Despite this setback, Rascoff eventually stepped down in November 2018. Quickly, Richard N. Barton returned as CEO to stabilize the company. Moreover, he navigated the organization through the global pandemic successfully.
Ultimately, Barton pivoted the business strategy toward becoming a comprehensive housing platform. Additionally, he focused on integrating cutting-edge technologies to ensure future relevance. Impressively, his innovative approach has garnered significant recognition. Indeed, prestigious organizations like MIT Technology Review and President Obama have celebrated his entrepreneurial spirit.
By 2020, Barton’s persistent efforts paid off. Remarkably, he and his co-founder Lloyd Frink achieved billionaire status. Furthermore, Zillow continued to evolve and adapt in the competitive tech landscape.
Zillow’s Technological Innovation
Moreover, Zillow pioneered data transparency in a historically opaque industry. Consequently, the company democratized real estate information for everyday consumers. Furthermore, its innovative algorithms transformed how people understand property values.
Additionally, Zillow disrupted traditional real estate models by empowering individual homeowners and buyers. Therefore, the platform represents more than a marketplace—it signals a broader technological revolution in personal asset management.
FAQ
Who is the current owner of Zillow?
Zillow is owned by Zillow Group Inc., which is a publicly traded company without one owner. There are numerous shareholders, and the company is still listed on NASDAQ. Zillow’s founder, Richard N. Barton, has approximately 15.8 million shares in the company. This stake was valued at around $700 million. It makes him the largest individual shareholder. Other board members and executives, including Lloyd Frink, also have significant shares.
Who founded Zillow?
Zillow was founded by two former Microsoft employees, Richard N. Barton and Lloyd D. Frink. Barton played a more significant role in the company’s processes and served as CEO from 2004 till 2010 and from 2019 to this moment. Frink is less known as Zillow’s co-founder, but remains at the company to this day and currently serves as Executive Chairman.
When was Zillow founded?
The company was founded in 2004, but Baron and Frink remained private about the company until the website for Zillow launched in 2006.
Is Zillow a publicly traded company?
Yes, Zillow became publicly traded in 2011 and remains to this day.
How Does Zillow make money?
Zillow’s business model revolves around a real estate marketplace with millions of active listings, Zillow Premier Agent program, and Zillow Home Loans. Other revenue streams include property management and rental management tools, ad revenue, and Zillow 3D Home tool for virtual tours.
Has Zillow made any major acquisitions?
Zillow acquired more than 15 companies. Most notable deals include HotPads, Mortgage Lenders of America, StreetEasy, Naked Apartments, and Tulia, the biggest Zillow competitor at the time.
Are off-market homes available on Zillow?
Yes, Zillow features off-market listings along with on-market homes. Zillow users can use specific filters and features on their platform to find these types of listings
In which countries does Zillow work?
Since its launch, Zillow has been available only in the United States. In 2018, due to the partnership with Century 21 Canada, Canadian listings became available on the platform. For now, the company is focused on North American markets, and no plans for launch in new regions have been announced.
