Thirty minutes into trading on Wednesday, Zillow Group's stock was down about 16.6 percent to around $70.55 per share
The move should take several quarters and will also result in Zillow reducing its workforce by about 25 percent
Glenn Kelman said Wednesday at Inman Connect that many agents expect iBuyers to grow. He isn't so convinced, but does see disintermediation as a real issue
The nation's second-largest title insurer has invested in 16 venture-funded companies valued at $669M after gains on Offerpad, Orchard, Sundae and Pacaso
At long last, WeWork made its stock market debut Thursday, two years after it tried and failed to first hold an initial public offering
Opinion
Other iBuyers saw the signals and made adjustments while Zillow kept on buying; either it missed the signs or proceeded anyway. Regardless, it’s a timely reminder that growing an iBuyer business is challenging
Zillow says it's facing supply and labor constraints. But other iBuyers, who expressed surprise over Zillow's abrupt pause, say they aren't suffering from the same issues
The publicly traded iBuyer has launched its services in the Columbus metro area, bringing its number of markets to 21
A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory 'fairly conspiratorial,' and iBuyers themselves said they still have a tiny share of the market
The iBuyer's two new metros were the first since the company went public earlier this month; Columbus, Ohio, is next on the list
The iBuyer's stock spiked 27% on Tuesday before settling back down to $10 per share as investors continued to show interest in companies that make direct cash offers for homes
IBuyers are closer than ever to profitability. But the overwhelming majority of profits are coming from record home price appreciation, which won't last and is on the decline
A new report from Zillow found that the nation's largest iBuyers reached a 1 percent market share in the second quarter of 2021, setting the stage for record-breaking sales in Q3
The iBuyer went public a day after merging with the Spencer Rascoff-led Supernova Partners Acquisition Company. The company will now be known as 'Offerpad Solutions'
The move is part of the iBuyer's continued expansion efforts as it prepares to go public later this quarter, a spokesperson said