Industry News

Zillow gets another $30 million in financing

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Online real estate valuation and property marketing company Zillow has completed its third round of financing by outside investors, raising $30 million, the company announced today -- for a total of $87 million. Global asset management firm Legg Mason Capital Management led the Series C financing for Zillow. All of Zillow's prior institutional investors also participated in the latest financing round, the company announced. "The funds will support expansion of Zillow's staff of 155 employees, including a 20-person national advertising sales team. The capital also allows the company to fund an accelerated timetable of products and features for homeowners, buyers, sellers, real estate professionals and advertisers," the company announced. Zillow, launched by Expedia founder Richard Barton in early 2006, completed a $25 million Series B financing round in July 2006. That round was led by PAR Capital, Technology Crossover Ventures and Benchmark Capital. At that time, the company announced ...