Oct 24, 2005
SEATTLE, Oct. 24 /PRNewswire/ -- Zillow.com, a pre-launch consumer online real estate service, today announced it received a Series A round of financing with investors Benchmark Capital and Technology Crossover Ventures (TCV). Bill Gurley, general partner at Benchmark Capital, and Jay Hoag, founding general partner at TCV, will join Zillow.com's board of directors. The financing terms were not disclosed.
"Both Benchmark and TCV have proven track records of identifying and investing in innovative companies, and we're thrilled to have them help us build something great," said Rich Barton, chairman and CEO of Zillow.com.
Zillow.com is developing a new online real estate service that makes it easier for everyone to get an edge in the home buying and selling process. Zillow.com was founded in early 2005 by Rich Barton, founder and former CEO of Expedia, and Lloyd Frink, former SVP at Expedia. The company has not yet announced a launch date or specific details of the business.
In addition to Bill Gurley and Jay Hoag, Zillow.com's board of directors also includes Rich Barton, chairman and CEO; Lloyd Frink, president; Greg Maffei, president and CFO of Oracle; Gordon Stephenson, co-founder and managing broker of Real Property Associates; and Erik Blachford, former CEO of Expedia.
Coming soon, Zillow.com is a consumer online real estate service created by a group of Internet veterans from Expedia, Microsoft Corp. and other leading online companies. Zillow.com was founded in early 2005, with corporate headquarters in Seattle. Zillow.com™ is a trademark of Zillow, Inc.
About Benchmark Capital
Benchmark Capital was founded in 1995 to help talented entrepreneurs build great technology companies. Benchmark's partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes franchise companies such as eBay, Juniper Networks and Red Hat. Managing more than $3 billion in committed venture capital, Benchmark focuses on investing in entrepreneurs with original ideas. For more information on Benchmark, visit its web site at http://www.benchmark.com/.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to expansion, late-stage private, and public companies. TCV employs a crossover investment model, which combines venture capital with public market investing and enables TCV to continue to invest in its portfolio companies at the IPO and beyond. TCV manages over $3.3 billion in assets and has invested in over 150 companies, achieving 37 IPOs and 29 other strategic sales or mergers. Leading investments include Actuate, Alteon Websystems, Altiris, CNET, Expedia, InPhonic, Netflix, RealNetworks, Redback Networks, Solect Technology, Webroot and Xylan. TCV has nine partners and is headquartered in Palo Alto, Calif. For more information about TCV, visit http://www.tcv.com/.
CONTACT: Amy Bohutinsky of Zillow.com, +1-206-470-7139
Web site: http://www.zillow.com/