Zillow, CEO of Spencer Rascoff – The co-founder, Rich Barton, takes over

Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG), which hosts a portfolio of the largest and fastest growing brands in real estate and home, on mobile and on the Web, today announced Rich Barton, co-founder of Zillow in 2005 and served as CEO of the company until 2010, was appointed managing director.

Barton has been Executive Chairman since his resignation as CEO. Zillow Group co-founder Lloyd Frink will now become executive chairman.

Co-founder Spencer Rascoff will remain on the board of the Zillow Group. Rascoff has led the Zillow Group as CEO since 2010 as part of its IPO, overseeing 15 acquisitions and growing the company from 200 employees to more than 4,000. Under his leadership, the Zillow Group has always been recognized as a leader. One of the best companies for which to work, and its annual business turnover has grown from $ 30 million to $ 1.3 billion.

Barton, who also founded Expedia in 1994 and co-founded Glbaddoor in 2007, and Frink have remained active Zillow Group executives since the company's inception. These changes come at a time when the Zillow Group is significantly expanding the scope of its business by entering into agreements to buy and sell housing, mortgages and other services designed to make real estate transactions simpler and more transparent for investors. consumers.

"We created the Zillow Group in 2005 to facilitate the process of buying and buying real estate," Barton said. "Much of our initial dream is becoming possible, we are at an inflection point in this quest, and the time has come to blend the leadership seats." I'm delighted to be back as CEO I am incredibly grateful to Spencer for the tireless leadership that has brought us to this point, and I am pleased that we will benefit from his continued support and guidance as Director of the Board. "

"Leading the Zillow Group during its phenomenal growth has been one of the most rewarding experiences of my life," said Rascoff. "I could not be more proud of the team and what we have accomplished together, and I will continue to be deeply involved in the Zillow Group as a member of the board of directors and major shareholder. is well positioned for Rich to now take the wheel as CEO through its next phase of growth. "

These leadership changes coincide with the release of the Company 's fourth quarter and fiscal year 2018 report for the year 2018, announced separately today. The new Chief Financial Officer of Barton and Zillow Group, Allen Parker, will host the quarterly teleconference with the participation of Rascoff and other officers at 2 pm PT today.

Rich Barton

Rich Barton has a long history of creating and advising successful companies, with a focus on those that give "power to people" by innovating on behalf of the consumer. Rich co-founded Zillow in 2005 and was CEO until 2010, when he became executive chairman. Prior to Zillow, Rich had founded Expedia in Microsoft in 1994 and had turned it into a public company in 1999. Rich was President, CEO and a member of the Expedia board of directors. from 1999 to 2003. He also co-founded and served as a director. President of Glbaddoor since its inception in 2007 until its acquisition in 2018.

Rich was a venture capital partner at Benchmark, a venture capital firm that has been investing in companies such as Netflix, Instagram, WeWork and Zillow since 2005, from 2005 to 2018. He has served on the boards of many public companies. . Director of the Board of Directors of Netflix, where he has been since 2002; Qurate, a holding company that operates several digital commerce businesses and previously called Liberty Interactive Corp., since 2016; Artsy, an online collection and resource for art collectors, since 2017; and the Zillow group. He holds a B.S. in General Engineering: Industrial Economics from Stanford University.

Lloyd Frink

Lloyd Frink co-founded Zillow in 2005 and is currently Executive Chairman and Chairman of the Zillow Group, where he continues to play a pivotal role in leading and developing the company's business strategies and products. Prior to Zillow, Lloyd was Senior Vice President of Expedia, where he managed the airline, hotel, automotive, destination, content, merchandising and partner marketing groups.

Prior to joining Expedia in 1999, Lloyd worked at Microsoft, where he created the groups that created software for pen peripherals and handhelds. He first joined Microsoft in 1979 as a summer intern at age 14, and then entered full time in 1988.

In addition to chairing the Zillow Group Board, Lloyd sits on the board of GrubHub. He earned a BA in Economics from Stanford University.

Spencer Rascoff

Spencer is an entrepreneur and business leader who founded two companies that have become household names. Spencer co-founded Zillow in 2005 and held various positions including Chief Operating Officer, Chief Financial Officer and Chief Marketing Officer until his appointment as CEO in 2010. As CEO, Spencer led Zillow during its IPO in 2011 and 15 acquisitions. In 2015, Spencer co-wrote the New York Times bestseller "Zillow Talk: Rewrite the Rules of Real Estate." Under his leadership, the Zillow Group has won numerous "Best Workplace" awards, and Spencer writes and speaks frequently about management and culture.

In 1999, at the age of 24, Spencer co-founded Hotwire.com, a leading Internet travel company, which was sold to IAC / Expedia in 2003 for $ 685 million.

Prior to joining the general public, Mr. Spencer worked in investment banking at Goldman Sachs and in private equity at TPG Capital.

Spencer sits on the boards of TripAdvisor, Zillow Group and Hutch. He is also a member of the Young Presidents & # 39; Organization. Spencer graduated with distinction from Harvard University.