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The money — which [Chief Executive Rich] Barton hopes will carry the startup to profitability — will be used for employment growth and new product development. One of the products — set to launch in the next three months — is a tool that will allow real estate brokerages to quickly upload hundreds or thousands of for-sale listings to the Zillow site.
Did I read that right? Their CEO “hopes” this move will carry them to profitability? Truth and transparency in Zillow's profitability is my second criticism.
One would think a site like Zillow could operate more effectively (and perhaps closer to profitability) with 10-20% of the manpower currently being utilyzed. With the downturn in the housing market, it wouldn't be surprising to hear that Zillow is downsizing their staff within the next 6-12 months and blaming it on the market.
While it can seem like a health sign for a company to be bringing on a new people, it can also be a caution flag when more investment capital is being sought at the same time. Great things are on the way. You'll see.
According to Zillow's jobs page , they're still...
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