Zillow plans to staff up to 100 employees in Irvine, Calif. office this year
SEATTLE and IRVINE, Calif., April 16, 2012 /PRNewswire/ -- Zillow, Inc. (NASDAQ:Z) the leading real estate information marketplace, today announced it will open a new office in Irvine, Calif. and expand its sales team there. The new office, located at 2600 Michelson Dr., will open later this summer.
Zillow® plans to staff up to 100 employees in Irvine in 2012, primarily by growing its sales force. The Southern California sales team will focus on selling Premier Agent subscriptions to local real estate professionals throughout the country across Zillow as well as Yahoo!® Real Estate, for which Zillow exclusively manages advertising sales. The Yahoo!-Zillow Real Estate Network is the largest real estate network on the Web[i].
The new office will also include space for the nearly 20 employees of Diverse Solutions™, an Irvine-based company that helps real estate agents market their businesses and improve their personal websites, which Zillow acquired in November.
"As Zillow continues to expand the breadth of our services and develop new tools to help real estate professionals grow their business, it made perfect sense to also expand our sales force to Southern California," said Greg Schwartz, Zillow's chief revenue officer. "Orange County is part of America's largest real estate market and has created a deep pool of talented sales people with expertise in Internet marketing and software from which to recruit."
In addition to its Seattle headquarters and Irvine offices, Zillow has sales offices in New York City, Chicago, and San Francisco. Last year, Zillow moved its headquarters to the Russell Investments Center in downtown Seattle, leasing 66,000 square feet of office space.
Zillow, which completed its initial public offering in July 2011, is growing. More than 32 million unique users visited Zillow's website and mobile apps in March 2012, representing a year-over year growth of 67 percent. As of the fourth quarter 2011, Zillow reported its fifth consecutive quarter of triple-digit revenue growth with Total Revenue growing 108 percent year-over-year to $19.9 million and Marketplace Revenue, which primarily consists of revenue generated from sales of Premier Agent subscriptions, growing 169 percent year-over-year to $13.7 million.