Zillow Group Closes Acquisition of ShowingTime, the Industry Leader in Home Touring Technology
Zillow Group (NASDAQ: Z, ZG) has completed its acquisition of ShowingTime, a leading online scheduling platform for home showings, for $500 million. This acquisition is significant for enhancing Zillow's capabilities in the real estate market, particularly in simplifying the home touring process. Over the past year, ShowingTime facilitated 63 million showings through its platform. Zillow Group plans to invest in ShowingTime to improve its technology and maintain its operational independence.
- Acquisition of ShowingTime enhances Zillow's service offering in the real estate market.
- Facilitated 63 million showings last year, indicating strong usage and demand for ShowingTime’s services.
- Zillow Group plans to invest in ShowingTime, potentially improving its functionality and user experience.
- None.
SEATTLE, Oct. 1, 2021 /PRNewswire/ -- Zillow Group (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced the closing of its acquisition of ShowingTime, an online scheduling platform for home showings. Touring is one of the most important steps in the home shopping and selling journey, and ShowingTime's technology has streamlined and improved the touring experience. The company is an industry leader, and Zillow Group will continue to invest in ShowingTime to improve its functionality.
ShowingTime's technology coordinates scheduling behind the scenes so agents can seamlessly book a confirmed home showing online and focus on their clients, simplifying a traditionally complicated and cumbersome process. In the past 12 months, the company has facilitated more than 63 million showings across its network of more than one million agents affiliated with hundreds of Multiple Listing Services (MLSs). Under the Zillow Group umbrella, Zillow Group will adhere to ShowingTime's existing privacy policy, and it will continue to operate as an individual brand and open platform for its existing and new clients, so the industry can continue to benefit from a simplified tour scheduling experience.
Zillow Group entered into a definitive agreement to acquire ShowingTime in February 2021 for
For more information about ShowingTime, please visit www.zillowgroup.com/showingtime.
About Zillow Group:
Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter.
As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. In September 2020, Zillow launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.
Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, ShowingTime, Bridge Interactive, dotloop, StreetEasy®, HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).
About ShowingTime:
ShowingTime is the industry leader in home touring technology and a proud affiliate of Zillow Group. ShowingTime's technology and services simplify the online tour scheduling process for buyers, sellers and agents across the industry. ShowingTime products are used in hundreds of MLSs representing more than one million real estate professionals across the U.S. and Canada.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, without limitation, statements regarding the acquisition of ShowingTime, Zillow Group's business and financial outlook, strategic priorities, and operational plans for 2021. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "will," "projections," "continue," "business outlook," "forecast," "estimate," "outlook," "guidance," or similar expressions constitute forward-looking statements. Differences in Zillow Group's actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow Group's control. For more information about potential factors that could affect Zillow Group's business and financial results, please review the "Risk Factors" described in Zillow Group's Annual Report on Form 10-K for the year ended December 31, 2020 and in Zillow Group's Quarterly Report on Form 10-Q for the three months ended June 30, 2021 filed with the SEC and in Zillow Group's other filings with the SEC. Except as may be required by law, Zillow Group does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
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SOURCE Zillow Group
FAQ
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