SEATTLE, May 18, 2023
/PRNewswire/ -- Zillow Group, Inc. (Nasdaq: Z and ZG) announced
today Jeremy Hofmann has been
promoted to chief financial officer (CFO). He succeeds Allen Parker, who will transition to an advisory
role into the first quarter of 2024.
Hofmann joined Zillow Group nearly six years ago and most
recently served as senior vice president (SVP) of corporate
development and strategy, with deep experience in strategy,
finance, budgeting and operations rigor, investor relations,
mergers and acquisitions and partnerships. Notably, Jeremy led
Zillow's redefined Housing Super App strategy in early 2022 and has
been a key driver of its execution over the past 18 months.
"Jeremy has been an integral part of Zillow's growth since he
joined the company," says Zillow co-founder and CEO Rich Barton. "He's at the center of our strategy
to capture a greater share of customer transactions in real estate
while making it easier for more and more people to get home.
Jeremy is key in driving progress on our growth strategy with
operational and financial discipline, and I'm looking forward to
him having an even bigger hand in shaping the future of Zillow as
our CFO."
Parker was named CFO in 2018. "Allen brought an operating
mindset and focus on processes through a changing macroeconomy and
Zillow's strategic shift toward the transaction," says Barton.
"We're very grateful for Allen's leadership over the past five
years, and for his continued support of the team over the next few
quarters to ensure a smooth transition."
Prior to joining Zillow, Hofmann spent nearly 10 years in
financial services, predominantly at Goldman Sachs, where he was a
vice president in investment banking, closing more than
$40B of transactions. As SVP of
corporate development and strategy at Zillow, Hofmann has led many
critical workstreams:
- Drove the launch and execution of Zillow's Housing Super App
strategy in early 2022.
- Deployed a cross-functional team to drive budgeting and
operating efficiency measures in 2019, which have since been
realized across the business.
- Has driven effective capital management programs since 2019 to
support organic and strategic growth, while also returning excess
capital to shareholders.
-
- Raised more than $2.5B of equity
capital over the past 5 years to support prior growth
strategies.
- Initiated a $1.8B share
repurchase program in late 2021.
- Led several key company acquisitions and partnerships,
including the acquisition of ShowingTime in 2021.
- Has overseen investor relations since 2020.
"Being part of Zillow's growth over the last six years has been
incredibly rewarding," says Hofmann. "Zillow has always been a
leader in delivering transformative tech-enabled solutions for
customers and partners in real estate, and I couldn't be more
optimistic about the opportunity in front of us. I'm excited to
take on this new challenge, leading our business with a strong
focus on driving revenue and prudently managing costs on behalf of
our shareholders."
Effective today, Jeremy oversees Zillow's finance, corporate
development, strategy and investor relations teams, and reports to
CEO Rich Barton. There is no change
to the second quarter 2023 guidance issued in Zillow's first
quarter 2023 report released on May
3, 2023.
About Zillow Group
Zillow Group, Inc. (NASDAQ: Z and
ZG) is reimagining real estate to make home a reality for more and
more people. As the most visited real estate website in
the United States, Zillow and its
affiliates help people find and get the home they want by
connecting them with digital solutions, great partners, and easier
buying, selling, financing and renting experiences.
Zillow Group's affiliates, subsidiaries and brands include
Zillow®; Zillow Premier Agent®; Zillow Home Loans℠; Zillow Closing
Services℠; Trulia®; Out East®; StreetEasy®; HotPads®; and
ShowingTime+℠, which includes ShowingTime®, Bridge Interactive®,
and dotloop®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow
affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS
#10287 (www.nmlsconsumeraccess.org). © 2023 MFTB Holdco, Inc., a
Zillow affiliate.
Forward-Looking Statements
This press release 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 the future performance and
operation of our business. Statements containing words such as
"may," "believe," "anticipate," "expect," "intend," "plan,"
"project," "predict," "will," "continue," "estimate," "guidance,"
"would," "could," "strive," or similar expressions constitute
forward-looking statements. Forward-looking statements are made
based on assumptions as of May 18,
2023, and although we believe the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
these results. Differences in Zillow Group's 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.
Factors that may contribute to such differences include, but are
not limited to: the current and future health and stability of the
economy and United States
residential real estate industry, including changes in inflationary
conditions, interest rates, housing availability and affordability,
labor shortages and supply chain issues; our ability to manage
advertising inventory and pricing and maintain relationships with
our real estate partners; our ability to establish or maintain
relationships with listing and data providers, which affects
traffic to our mobile applications and websites; our ability to
comply with current and future multiple listing service ("MLS")
rules and requirements; our ability to continue to innovate and
compete successfully to attract customers and real estate partners;
our ability to operate and grow Zillow Home Loans, our mortgage
origination business; the impact of pending or future litigation
and other disputes or enforcement actions; our ability to attract
and retain a highly skilled workforce; acquisitions, investments,
strategic partnerships, capital-raising activities, or other
corporate transactions or commitments by us or our competitors;
actual or anticipated fluctuations in quarterly and annual results
of operations and financial position; and the assumptions,
estimates and internal or third-party data that we use to calculate
business, performance and operating metrics.
The foregoing list of risks and uncertainties is illustrative
but not exhaustive. For more information about potential factors
that could affect Zillow Group's business and financial results,
please review the "Risk Factors" described in Zillow Group's Annual
Report on Form 10-K for the fiscal year ended December 31, 2022, and in future quarterly and
annual reports. Please review the "Use of Operating Metrics"
section in Zillow Group's Q1 2023 Shareholder Letter for additional
information about the operating metrics referenced in this press
release, including Customer Transactions. Except as may be required
by law, Zillow Group does not intend and undertakes no duty to
update this information to reflect future events or
circumstances.
(ZFIN)
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SOURCE Zillow Group, Inc.