Zillow Announces Record Q3 Results and Acquisition of Mortech
Today, Zillow announced results for third quarter 2012. It was another great quarter with record usage across mobile and Web. In fact, we reached a major milestone, topping 1 billion home views on Zillow Mobile through the first three quarters of 2012.
You can read the full press release in the Investor Relations section of our site, but here are some highlights:
- Record Total Revenue of $31.9 million, up 67% over third quarter 2011.
- Record Marketplace Revenue of $23.6 million, up 99% over third quarter 2011.
- Record usage across mobile and Web, reaching more than 1 billion home views on Zillow Mobile year-to-date, and a peak of 37 million monthly unique visitors.
In addition to last week’s acquisition of Buyfolio, today we also announced the planned acquisition of Mortech, a software and services company that provides mortgage-related solutions to lenders, bankers, credit unions and smaller community lenders. You can read more about that here. With the two acquisitions, Zillow continues to evolve and develop products for professionals.
Additionally in the third quarter, we launched the first free resource for consumers to find information about pre-foreclosures and foreclosed homes with the addition of 1.2 million “pre-market” homes to Zillow’s home shopping search. These properties are not listed on an MLS, nor are they freely listed on other search sites. You can see more about this here.
Zillow CFO Chad Cohen and I are hosting our third quarter conference call today at 2 p.m. PDT/5 p.m. EDT and we will go into greater detail. A link to the webcast is located in the Investor Relations section of the Zillow website and a replay also will be available after the call.
Many thanks to our users, our customers, and of course our tireless employees who have all contributed to our success and growth this quarter.