Longtime Zillow executive and COO Jeremy Wacksman has been promoted to CEO

Today, we announced Jeremy Wacksman has been promoted to CEO of Zillow Group, and I will serve as co-executive chair of the Board of Directors alongside co-founder Lloyd Frink.? I have been CEO and/or chairman since the day Lloyd and I seed-funded the company in 2004, and I will remain engaged as my role shifts to counseling Jeremy and the leadership team, rather than daily operational leadership.

We organized most of the company around Jeremy three years ago when we promoted him to chief operating officer (COO).? He has been supported by an exceptional team — amazing talent who have a clear strategy, high accountability, and high trust in one another.? Under Jeremy’s leadership, they have successfully positioned the company to go after, and execute well against, the multiple large, complex, interconnected opportunities ahead of us.

In 2009, when Zillow was very small, we found Jeremy at Microsoft and recruited him into a product and marketing role.? Since then, his responsibilities have steadily gained scope, spanning product, marketing, and operations.? Jeremy has been a key contributor throughout his tenure, advising Lloyd and me on major strategic and product decisions.? Early on, he helped pioneer mobile real estate shopping with the launch of the Zillow app.? Later, as chief marketing officer, he was critical to leading Zillow’s consumer marketing strategy, establishing a high bar and a branding framework for what has become a rare, loved and trusted household brand.??

His tenure as COO has been a time of particularly impressive innovation for Zillow.? Jeremy operationalized Zillow’s housing super app strategy while maintaining strong cost discipline, diversifying our revenue base and growing Rentals and Mortgages. He successfully championed the Follow Up Boss and ShowingTime acquisitions, helping us deliver on our goal to provide agent partners and the broader industry with the best software solutions to power their businesses.? He also organized, elevated, and recruited talent that makes up Zillow’s critical R&D, sales, and marketing operations.??

The Zillow business is in great shape financially, strategically, operationally, and organizationally, consistently outperforming the residential real estate industry.? We are executing well and methodically shipping great software and services in the Zillow housing super app that aim to digitize and integrate home buying, selling, financing, and renting, empowering consumers and partners alike.??

Jeremy is right and ready to be CEO of Zillow now, and I’m excited to support him as he leads us through our next chapter of building the digital future of real estate.?

This LinkedIn article is adapted from my remarks to Zillow shareholders on Aug. 7, 2024.? For more details regarding Zillow Group’s Q2 2024 earnings announcement, visit Zillow Group’s Investor Relations site and shareholder letter.

Forward-Looking Statements:?

This post contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including, without limitation, statements regarding leadership engagement following the CEO transition. Differences in actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow Group’s control. For more information about potential factors that could affect Zillow Group’s results, please review the “Risk Factors” described in Zillow Group’s other filings with the Securities and Exchange Commission.