TechCrunch says Zillow is set to announce it has secured a $30M chunk of capital, bringing the total to $87M (that's a significant chunk of change…).
(And here is the AP press release. And a typically stellar article from John Cook at SeattlePI.com)
One of the more interesting aspects of the TechCrunch article is the comments. Read them and you'll see things like:
"Seems like a prime acquisation (sic) target."
Zillow apparently aims to sell brokerages and agents "products" (quickly refuted by Drew Meyers)
"Trulia is dead"
There is a "property listing downturn" (!!)
And no one is talking about Zillow.
Seems some of the TechCrunch commenters don't quite understand Zillow…. guess they can get in line with a certain segment of the real estate population that still seem to fear Zillow or think "Zillow sucks".
Technorati Tags: Zillow, venture capital
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Eric Bramlett 09.20.07 at 1:33 pm
I read about this & it made me think of the late 90’s. Everyone bragged about how much venture capital they could raise - but no one talked about profits. Granted, Zillow is very popular, but I think that online companies that are successful do so b/c they learn to be lean. Why do you need 20 sales reps? Why do they need an additional $30m? Their market presence is huge - but they don’t do a ton of advertising other than PR & online. You would think they could get by on a lot less.
Malok 09.21.07 at 12:18 pm
I’m with Eric on this one. I’m skeptical about how the money will be spent - i.e. how much of it will get dumped into corporate expenses (cars, planes, travel, etc) compared to it being spent on real long term benefits for the company. Guess time will tell.