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Rich a young Microsoft employee, wanted everyone to have access and control. Always wanted to be an entrepreneur, when scheduling business trips he has always had difficulties calling the travel agency/corporate and he wanted to schedule his own trip on his own. He had a chance to go to Bill Gates and pitch his idea, leading him to launch Expedia in 1996 with the help of Microsoft which was a hit.

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Expedia was launched into the MSN web, it had a combination of consumer software and in-dept multimedia content which made Expedia the premier place to plan and purchase in the web. Expedia was a success in the web and the web was recently being developed and Expedia gave consumers an eye to the future.

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Rich came back from Florence, Italy after living a year abroad and reunited with Lloyd (his friend), and they were both looking to purchase a home. They decided to rent an office space where they were brainstorming ideas, they thought of the difficulties of not seeing the information of the houses and they had to contact a realtor every time to access information. They thought the similar idea like Expedia, creating something where there is the house information and giving consumer more freedom. Expedia was a hit, so they made some money and with the money they bought any production needed like computers, softwares and they needed to buy a name for the new company and they choose Zillow.

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Launched Zillow into a website				(technology, labor)

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Launched Zillow into a website				(technology, labor)

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In 2006, Rich and his team launched Zillow and it was a major hit since majority of consumers wanted to see their property value and others property value. When website was launched, by 8 am it was down since there was so much popularity.
Rich had to recruit a high level team which started from fewer than 10 at first.

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2008: Housing Market Crisis and Stock Market Crash  (Capital/Labor)

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2008: Housing Market Crisis and Stock Market Crash  (Capital/Labor)

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The stock market crashed in 2008, Rich and his team did not know what to expect, website traffic stayed up but had to downsize employees which was a difficult decision. The Stock Market crash affected many Americans and others.

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Covid-19 and New Revenue Streams (technology)

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Covid-19 and New Revenue Streams (technology)

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Covid-19 did not affect Zillow, but increased their website traffic since many Americans were buying homes. In 2020 alone, there was 9.6 billion views. Also launched Zillow Offer where Zillow buys your home and as a homebuyer you save time and all the selling process.

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Zillow Revenue and Usage Statistics (2024)

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As of Feb, 2024 they are worth 12.5 billion and they had around 10.5 billion views in 2023 and also there was 1.4 million shoppers that used the app or website. There are more than 135 million homes listed on Zillow and expected more.

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When Zillow was founded back in 2004, it was intended to revolutionise the real estate industry. Frustrated with his home buying experience, Microsoft executive Rich Barton hoped to improve the process through online home value estimates and accessible listings. His solution was to launch a modern real estate website.

Barton was no stranger to shifting industries online - along with Lloyd Frink, Spencer Rascoff, David Beitel and Kristin Acker, he had already had the successful launch of Expedia under his belt. He would also go on to co-found job review website Glassdoor in 2007.

Zillow found success quickly and is now the most-visited real estate website in the United States. In 2018, it began listing some Canadian properties online, becoming the first country outside the US to be marketed on the site.

Zillow prides itself on its automated home estimation model Zestimates, which takes public, multiple listing service and user-submitted data, home facts, location and market trends into account when determining an estimation. The business reports the median error rate for Zestimates to be 2.4 percent for on-market homes and 7.4 percent for off-market and stresses it cannot be used in place of an appraisal, but errors vary significantly between areas, causing some controversy as potential buyers dispute official valuations.

In 2018, Zillow sought to move into the on-demand home-buying market with their new division, Zillow Offers. Rich Barton returned as CEO to lead the transition, but the company suffered damages from the COVID-19 pandemic, and in November 2021 Barton announced the end of the i-buying activity. Many of the homes being listed by Zillow were being marketed for less than they had been purchased for and Zillow Offers lost more than $420 million from July to September 2021.

Zillow has made a series of real estate acquisitions, including StreetEasy, Trulia and ShowingTime to consolidate its place in the market. It estimates 67 percent of actual US home buyers used Zillow in 2021 and its overall customer transaction share is 3 percent.

Zillow Group currently operates a blanket referral-fee network - Zillow Flex - without an upfront cost for brokers to pay from escrow. Blanket referral fees are not disclosed to customers. Customers seeking rental apartments can also now see the exact location and their views at several thousand properties through an interactive map powered by Engrain.

Future plans for the company include the concept of a "housing super-app" connecting all parts of the moving process on one transaction platform, improving the home-touring reservation system and developing more seller offerings.

We've collected data and statistics on Zillow. Read on to find out more.

Zillow key statistics

Zillow's revenue was $1.9 billion in 2022, a fall from the previous year following the closure of Zillow Offers

The business experienced an average monthly high of 236 million unique users in the third quarter of 2022

There were more than 135 million US homes on the Zillow database in 2021

Zillow has faced net losses every year since 2012, with a loss of $528 million in 2022

Zillow overview

Zillow revenue

Zillow generated $1.9 billion in 2022, following the closure of Zillow Offers. In 2021 Zillow had a revenue of $2.1 billion.

Zillow quarterly revenue 2017 to 2022 ($mm)

Zillow annual revenue 2012 to 2022 ($bn)

Zillow net income

The business recorded a loss of $528 million in 2022, and has had a net loss in income each year since 2012.

Zillow annual net income 2012 to 2022 ($mm)

Zillow monthly users

In the three months to December 2022, there were 220 million average monthly unique users on Zillow's apps and website. The business hit an average monthly high of 236 million unique users in the third quarter of 2022.

Zillow average monthly users 2014 to 2022 (mm)
Note: This covers the fourth quarter of each respective year. Source: Company data
Zillow yearly visits

In 2022, there were 10.5 billion visits to Zillow, a rise from 10.2 billion the year before.

Zillow annual yearly visits (bn)

Zillow FAQs

How many buyers shop using Zillow?

In 2021, 4.1 million shoppers used the Zillow app or website to look for homes.
How popular is the Zillow Premier Agent?
1.4 million buyers sought a premier agent in 2021, according to Zillow statistics.
How many customer transactions have been completed through Zillow?
During 2021, 360,000 customer transactions were completed.

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Zillow Revenue and Usage Statistics (2024)

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When Zillow was founded back in 2004, it was intended to revolutionise the real estate industry. Frustrated with his home buying experience, Microsoft executive Rich Barton hoped to improve the process through online home value estimates and accessible listings. His solution was to launch a modern real estate website.