Rich Barton
@Rich_Barton
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Father, husband, entrepreneur, coach, & all around grateful guy. CEO of @ZillowGroup
Seattle
Joined April 2007
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yeah sex is great but have you ever gone on zillow
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Today we let our team know they have flexibility to work from home (or anywhere) through the end of 2020. My personal opinions about WFH have been turned upside down over the past 2 months. I expect this will have a lasting influence on the future of work ... and home. Stay safe.
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New
@Zillow
data shows 1 in 3 would buy a home sight-unseen with virtual tools. A structural change in home-shopping behavior is afoot. The virtual tools home shoppers need to use today for safety will become tomorrow's expectations for convenience.
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Today is a tough day at Zillow. We made the difficult, but necessary decision to wind down the Zillow Offers operations and lay off 25% of the workforce. You can read more about our decision below:
Zillow Group Reports Third-Quarter 2021 Financial Results & Shares Plan to Wind Down Zillow Offers Operations
Read our letter to shareholders
#ZEarnings
$ZG $Z
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The real value of home has never been clearer. We’re grateful to post record Q2 results today but the bigger story is the tectonic shift in RE. People are moving & came to
@Zillow
in huge #'s. Once-in-a-generation tailwinds in RE & tech are converging w/ Z at the nexus.
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Almost 15 years to the day the Zestimate launched & subsequently crashed
@Zillow
’s servers due to overwhelming consumer curiosity. Today is a big moment—the Zestimate is now an initial cash offer for *eligible* homes in more than 20 cities nationwide.
Sell your home to Zillow for its Zestimate! The Zestimate is now an initial cash offer on thousands of homes nationwide.
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We’ve shuffled seats today. Excited to return as CEO to
@ZillowGroup
. Look forward to working with
@spencerrascoff
and entire ZG team in our next chapter.
Zillow Group founder Rich Barton returns as CEO, Spencer Rascoff will remain on Board of Directors.
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This week I was invited to listen to our black employees share their pain and fear and confusion.
For themselves.
For their children.
Every time they leave their homes.
Enough.
I am an ally.
Racism has no home here.
We stand with the black community in the fight against violence and for equality.
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Another terrific quarter for
@Zillow
driven by exemplary execution and a record 9.6 billion visits to our mobile apps and websites over the course of 2020. That is 1.5 billion more visits than in 2019.
#ZEarnings
$Z $ZG
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Today we let
@ZillowGroup
know ~90% will have the flexibility to WFH, at least part-time, indefinitely. Love this quote from our Chief Ppl Officer
@DanSpaulding1
: “We are not returning to work in the future, we are working right now.”
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Near and dear:
@Glassdoor
just announced that it is joining forces with global jobs powerhouse, Recruit (
@indeed
), to dramatically accelerate its growth & extend its reach. I’m incredibly proud of founder/ceo
@bobhohman
& his killer team. Congratulations!
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.
@Zillow
’s Q3 2020 results reflect strong execution amid challenge & opportunity. The pandemic has made people want to move to a new place and has accelerated technology adoption as they dream, shop, buy, rent, and finance. As a digital leader, we are meeting the moment.
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Monstrous day of recognition for Altimeter's Brad Gerstner (
@altcap
) with the IPO of
@SnowflakeDB
. Brad was early investor in
@zillow
and with other “privates” (mongo, Okta…) has established himself as a rare talent in crossover investing.
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.
@Jason
nailed it – tension means attention and importance. I loved discussing how we launched
@Zillow
back in the day with the provocative Zestimate. A product designed to liberate information in real estate and give power to the people.
one of the most genius organic growth engines of all time is the
@Zillow
Zestimate
a little startup secret: it was spawned by a very simple
@bgurley
question!
bill asked
@Rich_Barton
: "what would you build if you had a $0 marketing budget?"
the rest was Zistory!
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Today we let
@ZillowGroup
employees know we will observe
#Juneteenth
as a day of reflection, education, and action to support our Black team members and the Black community.
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Thank you,
@spencerrascoff
for 9 amazing years as CEO. We could not have gotten to this point without your indefatigable commitmet. Looking forward to the next chapter with your experience guidance and oversight.
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Paying fellow humans a reasonable wage that engenders pride in work and gives them money to spend, works
When a city near Seattle passed a $15 minimum wage, critics said it would drive business away. Business is thriving
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These record sales levels are not “catch up” of lost demand. This increased demand to move seems to be evidence that a Great Reshuffling of where, and how, we live and work is underway. This reshuffling could be the defining cultural trend of the decade.
Existing-home sales rose to the highest level since February 2006. The national median sales price rose to $313,000.
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Punch through the ad. This is 7 minutes of pure leadership.
@GovWhitmer
bringing the thunder.
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Getting weepy as I barely meet deadline for submitting “GradGrams” for my twin high school seniors. What an incredible curve ball life has thrown to all graduates. Every generation has thought they were the last great one. Every time wrong. You are the future. Be great.
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A crystal clear window into the mind of a great stock investor.
My conversation with
@mario_cibelli
on deep research and public equity investing.
- cracking Netflix vs blockbuster
- value of visiting distribution centers
- Stitch Fix
- WWE
- Tequila
Mario is known for his incredibly deep research. You’ll see why.
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New
@Zillow
research shows WFH could open up 2M new affordable housing opportunities for renters priced out of their city. A monumental reshuffling is underway in real estate. We have only scratched the surface.
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I beseech the enablers to step up and speak out now. Have courage.
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Brad’s strategic clarity and eloquence are eclipsed only by his humanity. Terrific interview of
@altcap
by
@patrick_oshag
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I dropped one AirPod in my bourbon last night and am surprised and delighted to report it still works. It’s the little things
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.
@Zillow
economist Jeff Tucker on the data behind the Great Rushuffling: for every person fed up with the city and buying in the suburbs, two others say “awesome, I’ll take your condo.”
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Congratulations to
@JoeBiden
and
@KamalaHarris
for making history today. As the 46th president just said, “This is America’s day. This is democracy’s day.” Let’s join them in helping achieve “the most elusive of all things in a democracy: unity.” (Photos:
@CNN
)
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There's no excuse for an all-white board in today’s environment.
@Zillow
’s proud to join
#TheBoardChallenge
because I’ve come to know if you’re not part of the solution, you’re part of the problem. Leaders of all backgrounds can’t let this moment pass.
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We founded
@Zillow
to turn on the lights for regular consumers in the real estate industry. There is a great deal of conversation happening right now about how the industry should evolve to further empower consumers. Given the debate, I wanted to point to our published Real
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I, personally, and we, Zillow Group, owe quite a lot to
@BillGates
&
@melindagates
as well as
@UW
, and I am extremely happy that we could help bring this new expansion of Comp Sci & Eng to life.
Today,
@uwcse
unveiled the 3,000 sq. ft. Zillow Commons in the new Bill & Melinda Gates Center for Computer Science & Engineering. We are proud to support the expansion of this extraordinary program and the next generation of tech leaders.
#UWGatesCenter
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Big thx to my fave podcaster,
@ritholtz
. Turns out he doesn’t look like his TwitterPic. I probably don’t either. Here is our chat...
The weekend's MIB: Rich Barton Talks About Startups ZiIlow, Expedia, Glassdoor, even Netflix
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New
@Zillow
numbers on how embracing work from anywhere may reshape housing preferences. What we care and dream about in a home (for me, a real office) is changing, and we believe this moment will unlock a Great Reshuffling
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Pleased to report $Z, $ZG's strong Q1 earnings results. We’re accelerating into real estate 2.0, exceeding expectations, growing revenue 51% y/y and more excited than ever to deliver an integrated real estate transaction experience.
#ZEarnings
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Since day 1
@Zillow
's been about removing barriers to information and giving power to the people. Great work by our teams to make voter and ballot info more accessible to renters.
Really proud of our team on
@zillow
Rentals - with every lease, renters are now provided
#ZillowVotes
resources to register to vote, which is necessary for many movers and a helpful convenience.
#VoteReady
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@johnhcook
Thx, John. As The Dude says: “New shit has come to light, man.” We’ve been forced to make WorkFromHome work. Which means we know we can make it work in the future.
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“Racism in America is like dust in the air. It seems invisible...until you let the sun in.” -
@kaj33
. Zillow was founded to shine sun into housing, to give people power. We have to bring light to racial injustices and inequity. I am an ally.
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Totally agree: "Ray Kurzweil: The world isn’t getting worse — our information is getting better" via
@GeekWire
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How We Built This! Countless visionaries & brilliant thinkers created
@Zillow
& built it into what it is today. THANK YOU to each of you & to those who work so hard to serve our customers today. Thanks to
@Guyraz
& the
@howIbuiltthis
team for having me.
Did you know that ONE person has been a driving force behind
@Expedia
,
@Zillow
and
@Glassdoor
?
Listen to How I Built This with
@rich_barton
at
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We just released $ZG's Q2 2019 results. Homeowners want more than just Zestimates. They want Zillow Offers, which drove 84% YoY revenue for the quarter to ~$600m.
The on-demand economy is coming to real estate and consumers want an integrated transaction.
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Deep gratitude to
@spencerrascoff
for your blood, sweat and tears in helping to build Zillow Group from our earliest days and serving on the board since 2011. Wishing you great success in your new pursuits.
About a year after retiring as its CEO, I’ve just stepped off the board of directors of
@ZillowGroup
$ZG $Z. Am now focused on my angel investing and the startups I’m creating (two so far --
@dotLA
and a stealth NewCo – and more to come).
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Despite all the debate, Salesforce acq of Tableau continues validation of Seattle as tech’s second global capital. Let’s keep it that way. Congrats to
@aselipsky
@tableau
@salesforce
@benioff
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It’s not just the results we are lucky enough to achieve, it is *how* we achieve them, and with whom we choose to journey. This is one of the unspoken themes in a silly fun conversation with 2 of my favorite adventurers…
You must listen to this one.
My conversation with Zillow CEO
@Rich_Barton
& Altimeter founder
@altcap
on business and life:
- adapting to change
- how to name a company
- SPACs
- the Wizard of Oz
- big, hairy, audacious goals
...and a ton more.
Enjoy!
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The Zestimate is our trademark consumer tool. It’s a starting point for determining a home’s value. And now for some, it can be the starting point to selling a home hassle-free directly to Zillow. Thank you
@VickyNguyenTV
&
@NBCNightlyNews
for having me.
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.
@elonmusk
is in the mythological stage of “shedding all possessions” on his path to the apex of the open-hearted warrior pyramid. Happy to assist, Elon.
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Grateful to
@photomatt
for lending his time and advice on working from anywhere for our first-ever
@Zillow
virtual speaker series.
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We are in a unique position to build an iconic company and brand that transforms one of the country’s largest, most complex, and most important industries. The advantages we’ve worked hard to build, since we founded Zillow 15 years ago, will help drive us forward for the next 15.
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I'm so pleased to welcome the formidable
@ClaireThielke
to
@Zillow
's Board. As we digitize & streamline RE, we're building muscle in operations & finance, 2 areas of Claire's expertise. Her urban planning experience is a great positive as we re-imagine home & work.
We are excited to welcome Claire Cormier Thielke (
@ClaireThielke
) to our board of directors. She brings a wealth of experience and perspective that will serve our team well as we continue to transform how people buy, sell, finance and rent homes.
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Here at
@Zillow
, we’re making great progress on our iBuying inventory wind-down efforts. We shared that progress today, alongside the news of a stock buyback program which acknowledges the more capital-light nature of our high-margin and growing go forward business.
Zillow Group Announces Significant Progress on Zillow Offers Inventory Wind-Down and Authorizes $750 Million Share Repurchase Program
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A wonderful
@jposhaughnessy
podcast interview of a man of the world growth tech startup mentor investor wiseman,
@trengriffin
. Add it to your weekend queue.
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Zillow has long roots as a technology company dating back to our founding team’s days at Microsoft many years ago. Technology differentiates us & enables magical innovation for customers & partners. David’s leadership has been our rock solid foundation. Congratulations!
Chief Technology Officer, David Beitel
@davebei
, has been awarded the
@InspireCIO
#SeattleCIO
of the Year Award, under the Large Enterprise category! The
#Orbie
awards recognize technology executives for leadership, innovation & excellence. 👏👏👏
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There can be only one,
@sacca
. It’s a moderately long interview, but just keeps getting better as you go.
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2/Grab + Altimeter = No fluff investors. No flippers. Fairer pricing. Less distraction. Way better for employees / shareholders who can sell into the offering. This is a better, smarter IPO.
#powertothepeople
coming to the clubby IPO business finally.
@anthonypy_tan
@altcap
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“Faster to the future” is a motto of ours at
@Zillow
.
That applies not only to how we’re revolutionizing
#realestate
, but how we’re reimagining the
#futureofwork
.
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Thank you,
@andrewrsorkin
in
@NYTimes
, for turning on the lights on an important issue. Board service diversifies perspectives & helps leaders/companies grow. That's why
@Zillow
’s policy on board service is inclusive.
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Thank you
@TIME
for this exciting recognition. At
@Zillow
, we seek to empower and support our customers as they take on the scary, exciting journey of moving. Kudos to our awesome team who continue to push us forward.
#Time100Companies
Proud to be included in
@TIME
's TIME100 Most Influential Companies list!
We are leading the transformation in
#RealEstate
, building tools to help customers in their home journey. This is only possible because of our amazing team.
#TIME100Companies
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.
@ZillowGroup
's Q1 results: Increased revenue and profit generation after a period of heavy investment gives us confidence that the bets we are making across the company are paying off. Here's a summary of our results:
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Big thanks to
@bradInman
for inviting me back to the big stage in Vegas for
@InmanConnect
. It’s exciting to be back in the mix for Online Real Estate 2.0, where consumers finally will get a seamless streamlined transaction.
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The Great Reshuffling in
@WSJopinion
: More 50% of newly remote workers looking to move want a cheaper house; more 1/4 want to reduce living costs by 50%. Remote unlocks those options.
@Zillow
continues to lead, letting our employees work from anywhere.
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I can't wait :-)
Just listened to Tuesday’s
@InvestLikeBest
episode, which features two guests:
One of the best active investors, and one of the most talented active public market CEOs.
Such a fun format, can’t wait to send it out to you all.
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We posted strong Q1 results that show our team’s steady execution in 2019 paying off and positioning us well for crisis. We’ve all felt our relationship with home change over the past two months. I believe this moment will unstick movers and catalyze our transformation of RE.
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Working in paradise but blurring your Zoom background so colleagues don’t know? This idea that you’re not really ‘at work’ unless it’s someplace grim is a peculiar legacy stigma we believe will dissipate with the adoption of real location-flexible work.
Lured by promises of paradise and "digital nomad visas," some remote workers took the plunge during the pandemic and moved to a tropical island. Here’s how it worked out.
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From the freshest, most fearless, public policy strategist in the country,
@NickHanauer
. Poor education results are the symptom. The disease is poor pay and disenfranchisement.
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.
@Zillow
's leading digital tools like self-tour and auto-generated floor plans just shipped on more Z-owned homes. These are game-changing tools for shoppers and agents.
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The Delta variant has some employers scrambling to rethink their efforts to bring workers back to the office. But as I wrote in
@FortuneMagazine
today, pushing for a "return to normal” should never have been the goal
#futureofwork
#greatreshuffling
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Employees
@twitter
give
@jack
Dorsey an impressive 100% CEO approval rating on
@Glassdoor
http://t.co/mjPtwLOHlB
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(1/2) We just released
@zillowgroup
’s solid Q3
#ZEarnings
results - meeting or beating our expectations across the board. Today’s on-demand consumers are ready for more from the RE industry, and they want to work with
@zillow
’s trusted brand and partners.
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I joined
@SquawkStreet
this morning to talk about the acceleration of the digitization of
#realestate
, the velocity of home sales,
@Zillow
’s great Q4 results and the hilarity of
#SNL
.
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Ego tweet, but front page
@WSJ
story on a very interesting e-commerce trend in the real estate industry...
“It’s the dawn of e-commerce for real estate,” said
@Zillow
CEO
@Rich_Barton
. “Phoenix is ground zero.” An interesting look at how and why high-tech house flippers are gravitating to the Arizona capital, by
@RyanDezember
and
@rudegeair
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Following Georgia, 100s of proposed state laws threaten to make voting more difficult.
@Zillow
joins
@CivicAlliance
's initiative to protect voter access. Policymakers need to
#DotheRightThing
: ensure all Americans can easily cast their ballots.
There are hundreds of bills threatening to make voting more difficult in dozens of states nationwide.
The
@CivicAlliance
represents 100+ CEOs and companies in a unified message to call on elected officials to protect voting access.
Visit
#fordemocracy
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Here now is a legitimate “third way” for tech founding teams to go public. It very well coud be a better way. Fired up to have a seat on the bench for this one with Brad Gerstner
@altcap
at point guard.
Boom! “AGC” - Altimeter’s IPO Engine. $$ from the world’s best tech investors to bring your world class company public - in a far better way. Think of it as the anti-SPAC. Highly respected. Dream team investors. Your IPO. Done right!
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Zillow Prize is quickly becoming one of the highest profile machine learning competitions on Kaggle of all time
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I talked to the
@NBCNightlyNews
team about why
@Zillow
has given customers the option to take the
#Zestimate
price as an initial cash offer in 23 markets.
Check it out tonight
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Here is what we told shareholders and employees about our decision to wind down Zillow Offers:
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Legendary soccer star and activist
@mPinoe
virtually stopping by
@zillowgroup
to talk equity, LGBTQ+ rights, and general badass-ness with chief corp relations officer Dawn
@LyonSHARE
. You are making the world better.
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1/Founders thinking of traditional IPO take notice of what’s unfolding with
@grabSG
and
@altcap
. Not about SPACs - about a new blue chip capital markets alternative that just built a world class Day 1 IPO cap table for a $40 B internet business.
1/ GRAB! Southeast Asian leader in mobility (~Uber), Delivery (~Dash) and Payments (~Ant) going public at ~$40 B market cap on
@Nasdaq
via Altimeter Capital Markets platform. $AGC
@AnthonyPY_Tan
@Rich_Barton
@GrabSG
@Uber
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Big welcome to
@jarden
,
@zillow
's first CDO. Jenny and her teams are the ones designing and building intuitive, connected experiences for our partners, employees and customers. I'm excited to see what they dream up next.
Jenny Arden is joining Zillow Group as the company's first Chief Design Officer.
An accomplished design leader with a unique background that spans from consumer design to consumer finance,
@jarden
will oversee product design, research and user experience.
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Pandemic accelerated demand for a better way, and
@Zillow
is taking customer experience in real estate from offline to online.
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Software and the people who create, deploy, and support it are truly magic.
@ZillowGroup
we've been having frequent "Zall Hall" virtual co meetings w/~5k attendees, and they just work. And they are weirdly intimate. Thanks to the Z IT & Comms teams who are making them happen.
CEO
@Rich_Barton
started our recent virtual “Zall Hall” with motivating words to remind us we play an important role in helping customers unlock their next chapter -- “Even during COVID-19, people will continue to move & dream of moving! Home has never been more important to us."
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.
@ZIllow
employees work from where they are happiest & most productive. Whether it’s their sunny backyards, family cabin in the woods, or an RV that’s somewhere different every day, I love to see it. Real flexibility to show up to work from where they actually want to be.
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Congratulations,
@NickHanauer
. Well deserved recognition and a worthy interview for everyone to read.
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The top tier of the SPAC world is emerging. Congrats to Brad (
@altcap
), Hab and team on tech IPO catapult
#2
. There’s something happening here...
$AGCB - Altimeter’s 2nd growth SPAC - is now live on
@NYSE
. All 3 doors to the public mkt are now wide open - and we are happy to advise / invest in what is best for u! Choice / competition are grt for companies, employees and retail investors. Happy to be part of this change!
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v.6.7 (for those keeping track) of the Zestimate is live! This new version reflects our obsession with the accuracy & transparency of home values.
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If you’re confused about why
@Zillow
is pushing so hard into home purchasing as a service with
@ZillowOffers
, just watch Bryan and Pollyanna tell the story to
@KPRC2
news.
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Mom & Dad - when jr asks “what should i major in?” say “Data science” here are 116k reasons why
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I’m pretty impressed that the internets seem to be scaling so gracefully into this crisis. Bravo
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People have always daydreamed about moving, but now they have the freedom to make that leap -- The Great Reshuffling.
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My thoughts today are with my Muslim friends and colleagues. I stand with you against hate.
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Inside Brad's Brain... easy to see why founders and funders want to partner w/
@altcap
& Brad Gerstner. Esp like his push to make public markets more accessible to founders and retail investors.
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Fantastic to listen to super smart, accomplished non-dudes talking tech & investing. Congrats to
@jess
&
@aunder
their new
#angels
pod. I’m now subscribed. And guest
@ClaireThielke
is an awesome real estate investor and cool-spotter
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Excited to launch the most accurate Zestimate home valuation in history. When we launched the Zestimate back in 2006, it empowered people with facts and figures about their home. Today, the Zestimate is so sophisticated, it can now value a home's quality and curb appeal.
PSA 📣: Your home’s Zestimate just got smarter.
Starting today, the home features you’re most proud of (yes, even your fab new quartz countertop) now factor directly into your Zestimate. Here’s the rundown of what’s new:
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