Real Estate Services Provider Marks Q1 Gains

Zillow, Inc., the free online real estate site offering home listings, mortgage rates, and views of homes sold, notched total revenue of $22.8 million in first quarter 2012, 103% over the corresponding quarter a year ago. MarketWatch tells this is the sixth consecutive quarter revenue growth quarter over quarter has exceeded 100%. Marketplace revenue rose 141% from $6.9 million in Q1 2011 to $16.6 million in Q1 2012. Net income totaled $1.7 million for the first quarter 2012, as compared to a net loss of $0.8 million Q1 2011. The report says more homes are viewed on a mobile device via Zillow than on the web. Zillow recently agreed to acquire RentJuice, a company that provides renal software for landlords, property managers, and rental brokers. Spencer Rascoff, Zillow’s CEO, says, “This acquisition will provide us with a comprehensive suite of business and marketing services for rental professionals, similar to what took us years to build and grow in our parallel marketplace for real estate agents.”

(Image credit: Zillow, Inc.)

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