Report: Zillow Hires Bankers Ahead of IPO

Seattle real-estate website has hired Citigroup to manage an initial public offering, Bloomberg reports, citing unnamed sources. Bloomberg said its sources didn’t identify any timeline for a possible Zillow IPO. The company hasn’t yet filed an S-1 prospectus to declare its IPO plans, which would identify its underwriters, and reveal how much cash it hopes to raise.

Zillow had a pretty big year in 2010. In July, the company partnered with Yahoo Real Estate, creating the largest real estate advertising network in the industry. It inked another partnership in the fall, this one with Chicago-based to create a more comprehensive national database of apartment listings. And after bringing in nearly $90 million in financing over its lifespan, executives said Zillow was profitable.

Spencer Rascoff was promoted to chief executive last fall, taking over for co-founder Rich Barton. At that time, Rascoff said the Zillow Mortgage Marketplace was its fastest-growing business. That feature lets consumers anonymously shop for mortgage rates in different markets around the country.

Zillow recently extended its brand of pricing estimates—or “Zestimates”—to apartment listings, trying to capitalize on the rush of renters as the homebuying market remains in the doldrums. If Zillow really does intend to go ahead with its IPO, we’ll soon see much documentation of how much revenue and profit it is really making from its Zestimates, and how much of a market it still sees for home price data in the wake of the housing bust.

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13 responses to “Report: Zillow Hires Bankers Ahead of IPO”

  1. Jon Kolsky says:

    Should Unethical Behavior Stop In Zillow

    Why are there the same people/users allowed to break policies in zillow, and why do they get away with it. Please explain, why special treatment to a few is allowed. The group behavior, and plotting for gain is that right. I would be nice for explanations of this claim, here is what I talk about..

  2. Bonnie Kale says:

    Jon Kolsky was banned by Zillow after being abusive to fellow licensed professionals, calling several female agents at home and failing to follow the terms of use. Zillow’s successful business plan makes him angry and jealous since he is no longer on the site.

    Now that he is banned, Jon Kolsky wants to take the victim role, but nothing could be farther from the truth. How much do you think it takes to get banned from a mainline website? Jon Kolsky knows.

  3. Bonnie Kale says:

    Jon Kolsky you are the one who said you were banned from Zillow by You obviously did not leave on your own or there would be no reason to ban you. Jon Kolsky your blog makes it pretty clear that you are lying about that. It makes me wonder what else you are lying about.

  4. Darla says:

    @Bonnie Kale
    The good news is that he continues to post links to threads making claims about the people on them. Turns out the threads aren’t that bad, so while there seems to be an attempt to destroy other people it’s not working. I’ve quietly watched and he has gone after a few people making false slanderous claims about what they’ve said. Not sure anyone takes him seriously anymore.

  5. Jon Kolsky says:

    Thank you Xconomy Seattle, I am glad you let your readers read all sides of the story, zillow needs to learn about transparency, and equality..

  6. Ooglebot says:

    Uberrissig. Run before the net man comes.

  7. The best real-estate investments with the highest yields are in working-class neighborhoods, because fancy properties are overpriced.