SEATTLE - Zillow Group, Inc. (NASDAQ:Z and NASDAQ:ZG), a leading real estate platform with a market capitalization of $16.53 billion, announced today the appointment of Zuhairah Washington as Senior Vice President of Market Operations and General Manager of Flex (NASDAQ:FLEX). Washington, with a 20-year career marked by significant achievements at companies like Uber (NYSE:UBER) and Expedia (NASDAQ:EXPE) Group, will spearhead Zillow's efforts to expand its integrated housing super app experience to more users across the United States.
Washington's professional background includes a notable stint at Uber, where she managed the company's fifth-largest market in the U.S. and led to a substantial revenue increase. At Expedia Group, she oversaw a team responsible for managing $4 billion in partner revenue, achieving impressive year-over-year growth. Her appointment comes as Zillow demonstrates strong revenue growth of 13.12% over the last twelve months, according to InvestingPro data.
In her new role at Zillow, Washington will focus on scaling operations and enhancing the company's Flex agent program, which is part of Zillow's Enhanced Markets strategy. This strategy integrates various components of the home-buying process, such as financing and agent selection, into a cohesive digital experience. InvestingPro analysis shows the company maintains a strong financial position with more cash than debt on its balance sheet, supporting its expansion initiatives.
The company's Enhanced Markets currently span 43 locations, and with Washington's leadership, Zillow aims to not only increase its presence in these markets but also to introduce its super app experience to additional markets.
Zillow's Chief Operating Officer, Jun Choo, expressed enthusiasm about Washington joining the team, emphasizing the company's commitment to providing a more seamless transaction experience for home shoppers and movers, in collaboration with agents who are focused on addressing consumer needs.
This move by Zillow reflects its ongoing investment in digital innovation and customer service, aiming to simplify the home-buying journey for its users. Based on a press release statement, Zillow continues to reimagine the real estate industry by connecting individuals with the resources and services they need to navigate the housing market effectively. For deeper insights into Zillow's financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro's detailed research reports.
In other recent news, Zillow Group, Inc. reported a 17% year-over-year revenue increase in its third-quarter 2024 earnings call, reaching $581 million and surpassing the company's revenue outlook. The growth was attributed to strong performance across its residential, rental, and mortgage segments. Jefferies, in a recent note, maintained a Buy rating for Zillow, raising the price target to $105 from $92, citing anticipated revenue growth from product expansion. The firm's analyst expects Zillow's new products to provide over $500 million in incremental revenue by 2026.
In addition, Zillow aims to be convertible debt-free by Q2 2025 and has returned $1.2 billion to shareholders through share repurchases. The firm projects a Q4 revenue between $525 million and $540 million, a 12% increase at the midpoint year-over-year. Zillow's strategy includes the integration of Virtual Staging AI into Zillow Showcase, targeting over $1 billion in rental revenue. These are the recent developments for Zillow, reflecting a strong long-term outlook.
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