John Cook reports today that Zillow.com has scored another $25 million in VC funding. Glenn Kelman, CEO of Redfin is calling this an “amazing war chest” and I tend to agree. This round of financing means Zilllow has raised a total of $57 million, a very impressive number indeed.
That kind of investment can only mean that investors, who include PAR Capital Managment, Benchmark Capital and Technology Crossover Ventures, see a significant potential for return.
A couple of highlights from Cook’s posting hint at how Zillow aims to accomplish this:
CFO Spencer Rascoff makes a rambling, slightly incongruous analogy comparing Zillow to a TV network:
“Right now, we have a terrific lineup of shows, if you will, which have attracted a lot of audience. But we need to keep producing hit shows in order to keep the traffic coming and keep making the money on advertising,” he said.
I think I get what he’s trying to say, but I think he could been a little more clear. That is, of course, unless misdirection was the intent.
Later, Rascoff was a little cagey when asked about the timeline for the rollout of any new features, including most likely, adding for sale listings to Zillow’s search results.
[He] said that listings are a critical piece of the company’s mission of “making consumers smarter about real estate information,” but he declined to say when it they might offer such a service.
More coverage here: