Zillow is opening its Zillow Offers home buying service again to buy and placing technology bets on virtual and self-tours, machine learning and e-signings to speed up real estate digital transformation. And the digital transformation accelerant is the COVID-19 pandemic. Zillow reported solid first quarter results and said business has bounced back. The company reported a net loss of $163.3 million on revenue of $1.12 billion. Adjusted EBITDA was $5.1 million. Zillow has three units. Zillow Offers buys and sells homes. There is also a media unit (IMT) that generates leads for realtors and a mortgage business. Rival Redfin said it will also open its home buying service and leverage technology for a low-touch real estates buying experience. Digital business transformation accelerates: Just ask NCR, Zillow, AxonZillow awards $1 million to data scientists for improving its Zestimate algorithmDigital Transformation: A CXO’s Guide Richard Barton, CEO of Zillow, said remote work and online education puts a whole new spin on home ownership.Whether they’re dreaming about an extra room for an office, a bigger yard, a less dense neighborhood, or for many of you maybe, a new second home, there’s evidence that the experience has uncorked new aspirations and hopes of what home… Read full this story
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