10:53:36 | 2012-05-16
(New York, NY) — Online real estate company, Zillow, has had a significant increase in trades of late, thanks to its strength in its marketplace division. Last week, the company enjoyed a jump in late trades and beat Wall Street’s expectations for its first-quarter earnings. The revenue growth this company has experienced is shocking to some, but their recent expansions and acquisitions in today’s rental and real estate market can be thanked for their surprising first quarter performance.
The company is expected to be able to expand its rental marketplace offerings now that it has acquired the privately held company RentJuice. Zillow recently agreed to acquire the company for $40 million. The recent acquisition is expected to be the boost that Zillow needed to not only dominate the online buying market but the online rental market as well.
However, as revenue growth soared 103% year-over-year for the company there seems to be more to the success of this online real estate search tool. According to CEO Spencer Rascoff a great deal of the company’s success can be accredited to their recent mobile efforts as well as the company is seeing significant growth with their mobile platforms.
The mobile usage of the companies application and the consistent growth of site traffic is causing Zillow to grow in leaps and bounds. Many real estate professionals, buyers and renters alike, especially those in fast-paced markets like New York are using the mobile version of Zillow to stay up to speed on the ever changing market. However, this isn’t the only way that Zillow has created its web presence; their growth can also be contributed to the fact that the company runs Yahoo!’s online real estate section.
As Zillow continues to dominate the online market and provide new ways for those in the real estate business to stay up to date, while on the go, there seems to be no stopping the growth of this company. Their successful end to the first quarter this year proved how quickly the company is growing and how much they are having an impact on today’s market. With growth of this magnitude behind them; the company is expected to continue to rise as they find new ways to adhere to the needs of today’s fast paced market with their web-based initiatives.