Zillow Group Promotes Jeremy Wacksman to CEO
Zillow Group (Nasdaq: Z and ZG) has announced a significant leadership change. Jeremy Wacksman, the company's longtime executive and Chief Operating Officer, has been promoted to Chief Executive Officer and appointed to the Board of Directors. Wacksman succeeds co-founder Rich Barton, who will remain on the Board and become co-executive chair alongside co-founder Lloyd Frink.
Wacksman, who joined Zillow from Microsoft in 2009, has held various leadership roles within the company, including product leader, chief marketing officer, and most recently, chief operating officer. During his tenure, he has been instrumental in driving innovation, growing Zillow's businesses, and overseeing key departments such as engineering, product, design, marketing, sales, and industry relations.
Under Wacksman's leadership, Zillow has seen significant growth and innovation, including the development of its housing super app strategy, diversification of revenue streams, and successful acquisitions of industry software solutions like Follow Up Boss and ShowingTime.
Zillow Group (Nasdaq: Z e ZG) ha annunciato un cambio significativo nella leadership. Jeremy Wacksman, storico dirigente e Chief Operating Officer dell'azienda, è stato promosso a Chief Executive Officer ed è stato nominato nel Consiglio di Amministrazione. Wacksman succede al cofondatore Rich Barton, che rimarrà nel Consiglio e diventerà co-presidente esecutivo insieme al cofondatore Lloyd Frink.
Wacksman, che ha iniziato a lavorare in Zillow nel 2009 dopo aver lasciato Microsoft, ha ricoperto vari ruoli di leadership all'interno dell'azienda, tra cui leader di prodotto, chief marketing officer e, più recentemente, chief operating officer. Durante il suo mandato, ha giocato un ruolo cruciale nello stimolare l'innovazione, nella crescita delle attività di Zillow e nella supervisione di dipartimenti chiave come ingegneria, prodotto, design, marketing, vendite e relazioni industriali.
Sotto la guida di Wacksman, Zillow ha registrato una notevole crescita e innovazione, compresa la creazione della strategia della super app per la casa, la diversificazione delle fonti di reddito e l'acquisizione di soluzioni software di settore come Follow Up Boss e ShowingTime.
Zillow Group (Nasdaq: Z y ZG) ha anunciado un cambio significativo en su liderazgo. Jeremy Wacksman, el veterano ejecutivo y Director de Operaciones de la compañía, ha sido ascendido a Director Ejecutivo y nombrado en la Junta Directiva. Wacksman sucede al cofundador Rich Barton, quien permanecerá en la Junta y se convertirá en co-presidente ejecutivo junto al cofundador Lloyd Frink.
Wacksman, que se unió a Zillow desde Microsoft en 2009, ha ocupado varios roles de liderazgo dentro de la empresa, incluyendo líder de producto, director de marketing y, más recientemente, director de operaciones. Durante su mandato, ha sido fundamental en la promoción de la innovación, el crecimiento de los negocios de Zillow y la supervisión de departamentos clave como ingeniería, producto, diseño, marketing, ventas y relaciones con la industria.
Bajo el liderazgo de Wacksman, Zillow ha visto un crecimiento e innovación significativos, que incluyen el desarrollo de su estrategia de superaplicaciones de vivienda, la diversificación de las fuentes de ingresos y adquisiciones exitosas de soluciones de software de la industria como Follow Up Boss y ShowingTime.
질로우 그룹 (Nasdaq: Z 및 ZG)가 중요한 리더십 변화를 발표했습니다. 제레미 웩스맨, 회사의 오랜 경영진이자 최고 운영 책임자가 최고 경영자로 승진하고 이사회의 일원으로 임명되었습니다. 웩스맨은 공동 창립자인 리치 바튼을 이어받으며, 바튼은 이사회에 남아 공동 회장직을 유지하게 됩니다. 공동 창립자 로이드 프링크와 함께합니다.
웩스맨은 2009년 마이크로소프트에서 질로우로 옮긴 후, 회사내 다양한 리더십 역할을 맡아왔습니다. 제품 리더, 최고 마케팅 책임자, 그리고 최근에는 최고 운영 책임자 역할을 수행했습니다. 그의 재임 기간 동안 그는 혁신을 주도하고, 질로우의 사업을 성장시키며 엔지니어링, 제품, 디자인, 마케팅, 판매, 산업 관계와 같은 주요 부서를 감독하는 데 중요한 역할을 했습니다.
웩스맨의 지도 아래 질로우는 주택 슈퍼 앱 전략 개발, 수익원 다각화, Follow Up Boss 및 ShowingTime과 같은 산업 소프트웨어 솔루션의 성공적인 인수 등에서 큰 성장과 혁신을 경험했습니다.
Zillow Group (Nasdaq: Z et ZG) a annoncé un changement de direction significatif. Jeremy Wacksman, l'ancien dirigeant et directeur des opérations de l'entreprise, a été promu au poste de directeur général et nommé au conseil d'administration. Wacksman succède à Rich Barton, cofondateur, qui restera au conseil d'administration et deviendra co-président exécutif aux côtés de Lloyd Frink, également cofondateur.
Wacksman, qui a rejoint Zillow depuis Microsoft en 2009, a occupé divers postes de direction au sein de l'entreprise, notamment responsable produit, directeur marketing et, plus récemment, directeur des opérations. Pendant son mandat, il a joué un rôle essentiel dans la promotion de l'innovation, la croissance des entreprises de Zillow et la supervision de départements clés tels que l'ingénierie, le produit, le design, le marketing, les ventes et les relations industrielles.
Sous la direction de Wacksman, Zillow a connu une croissance et une innovation significatives, notamment le développement de sa stratégie de super application pour le logement, la diversification des sources de revenus et des acquisitions réussies de solutions logicielles de l'industrie telles que Follow Up Boss et ShowingTime.
Zillow Group (Nasdaq: Z und ZG) hat einen signifikanten Führungswechsel angekündigt. Jeremy Wacksman, der langjährige Geschäftsführer und Chief Operating Officer des Unternehmens, wurde zum Chief Executive Officer befördert und in den Vorstand berufen. Wacksman folgt auf den Mitbegründer Rich Barton, der im Vorstand bleibt und gemeinsam mit dem Mitbegründer Lloyd Frink zum Co-Vorsitzenden ernannt wird.
Wacksman, der 2009 von Microsoft zu Zillow kam, hat verschiedene Führungspositionen innerhalb des Unternehmens innegehabt, darunter Produktverantwortlicher, Chief Marketing Officer und zuletzt Chief Operating Officer. Während seiner Amtszeit war er maßgeblich daran beteiligt, Innovationen voranzutreiben, die Geschäfte von Zillow auszubauen und wichtige Abteilungen wie Technik, Produkt, Design, Marketing, Vertrieb und Branchenbeziehungen zu leiten.
Unter Wacksmans Führung hat Zillow signifikantes Wachstum und Innovationen erlebt, darunter die Entwicklung seiner Wohnungs-Super-App-Strategie, die Diversifizierung der Einnahmequellen und erfolgreiche Übernahmen von branchenspezifischen Softwarelösungen wie Follow Up Boss und ShowingTime.
- Promotion of experienced insider Jeremy Wacksman to CEO, ensuring continuity and deep understanding of the company
- Zillow's business reported to be 'firing on all cylinders' and performing well in challenging real estate market
- Strong user engagement with Zillow Group apps having 3x more daily active users than competitors
- Successful diversification of revenue streams and growth in Rentals and Mortgages businesses
- Strategic acquisitions of industry software solutions enhancing Zillow's product offerings
- None.
Insights
The appointment of Jeremy Wacksman as CEO of Zillow Group is a significant leadership transition that could impact the company's strategic direction. Wacksman's 15-year tenure and diverse roles within Zillow suggest a smooth transition and continuity in operations. His track record in product innovation, marketing and operational leadership positions him well to execute Zillow's "housing super app" strategy.
The retention of co-founders Rich Barton and Lloyd Frink as co-executive chairs indicates ongoing founder involvement, which can be reassuring for investors. This structure allows for continuity of vision while potentially enabling fresh operational perspectives. However, investors should monitor how this dual leadership structure functions in practice, as it could impact decision-making processes.
Overall, this change appears to be a well-planned succession, which is generally viewed positively in corporate governance circles. The market's reaction will likely depend on Wacksman's ability to articulate and execute his vision for Zillow's future growth.
Wacksman's promotion to CEO is a strategic move for Zillow, given his integral role in developing key innovations that have driven the company's growth. His background in product development and marketing positions Zillow to potentially accelerate its tech-driven approach to real estate transactions.
Under Wacksman's operational leadership, Zillow has made significant strides in diversifying revenue streams and expanding into mortgages and rentals. The acquisition of industry software solutions like Follow Up Boss and ShowingTime indicates a focus on vertical integration and enhancing services for real estate professionals.
Zillow's emphasis on the "housing super app" concept and innovations like 3D interactive floor plans and Real Time Touring demonstrate a commitment to improving the digital real estate experience. With
From a financial perspective, Wacksman's appointment comes at a important time for Zillow. The company's focus on cost discipline and revenue diversification under his COO tenure is encouraging, especially given the challenging real estate macro environment mentioned.
Zillow's strong brand recognition and high user engagement (3x more daily active users than competitors) provide a solid foundation for potential revenue growth. The expansion into mortgages and rentals could help stabilize revenue streams amidst real estate market fluctuations.
Investors should closely monitor Zillow's ability to monetize its user base and the performance of recent acquisitions. The company's success in capturing a larger share of real estate transactions will be critical for long-term financial performance. While the leadership transition appears positive, the real test will be Wacksman's ability to translate Zillow's technological innovations and market position into sustainable profit growth in a competitive and cyclical industry.
Rich Barton remains on the Zillow Group Board of Directors and becomes co-executive chair alongside Zillow co-founder and current executive chair Lloyd Frink
Wacksman joined Zillow from Microsoft in 2009 and has earned multiple promotions throughout his 15 years at Zillow, including as a product leader, chief marketing officer (CMO) and, for the past three years, as chief operating officer (COO), with responsibility for growing Zillow Group businesses and also overseeing engineering, product, design, marketing, sales and industry relations.
"Zillow's business is firing on all cylinders and performing well through a challenging real estate macro. We've built and integrated products, completed strategic acquisitions, enhanced our agent partner network, and leaned in hard on our Mortgages and Rentals businesses," Barton said. "This is due in no small part to the leadership of Jeremy Wacksman, with the past three years being a time of particularly impressive innovation for the company. Lloyd and I could not be more confident in Jeremy as CEO, in the caliber of the broader team and in Zillow's bright future."
During his leadership tenure at Zillow, Wacksman has been a driver of innovation in real estate. As a Zillow product leader, Wacksman helped pioneer mobile real estate shopping and, today, Zillow Group apps have three times more daily active users than any other company in the category. As CMO, Wacksman shepherded the pivotal product and consumer marketing strategy that helped Zillow grow into the household brand it is today, with 231 million average monthly unique users and the word "Zillow" searched more than the term "real estate." When Barton tapped him as COO, Wacksman operationalized Zillow's housing super app strategy while maintaining strong cost discipline, diversifying revenue streams, growing the Rentals and Mortgages businesses, and successfully acquiring industry software solutions like Follow Up Boss and ShowingTime. He also organized and elevated the talent that now makes up Zillow's world-class product, engineering and design organizations responsible for innovative product rollouts such as 3D interactive floor plans, Real Time Touring and Zillow Showcase.
"With the strength of Zillow's brand, our highly engaged audience and a steadily growing business portfolio, we are in a great position to capture meaningful transaction share for years to come," Wacksman said. "The work we're doing to bring the integrated transaction to life through exceptional tech solutions for consumers and agents will transform residential real estate. I love this company and its mission, and I am honored to lead our extraordinary team into the next phase of Zillow's growth."
Both Barton and Frink have led the Board of Directors and held Board positions, including the chairmanship, since they founded Zillow in 2004. They will continue to be active in the Company to support Wacksman and the leadership team.
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 Zillow Group's business growth, performance, and impact on residential real estate. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "predict," "will," "projections," "continue," "estimate," "outlook," "guidance," "would," "could," "strive," or similar expressions constitute forward-looking statements. Forward-looking statements are made based on information currently available to management, and although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. 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 publicly available filings with the
About Zillow Group:
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Rentals®, Zillow Home Loans℠, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, Spruce® and Follow Up Boss®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2024 MFTB Holdco, Inc., a Zillow affiliate.
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SOURCE Zillow Group, Inc.
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