ZipRealty
Online real estate brokerage.
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| - | investor | €0.0 | round |
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| N/A | N/A | IPO | |
| Total Funding | 000k | ||
ZipRealty, founded in 1999 by UC Berkeley Haas School of Business graduates Scott Kucirek and Juan Mini, established itself as a technology-focused real estate brokerage. The company's business model integrated a robust online platform with a team of in-house agents to serve home buyers and sellers. Revenue was primarily generated from real estate commissions on property transactions. The firm went public in November 2004, trading on NASDAQ under the symbol ZIPR.
The company's core offering was its website, ZipRealty.com, which provided users with accurate, MLS-sourced property listings and a suite of tools to facilitate their search. This was complemented by a proprietary customer relationship management (CRM) platform called Zap. This system provided agents with actionable leads and customer insights based on their website activity, aiming to streamline the transaction process. For home buyers and sellers, ZipRealty combined its digital tools, including a mobile app, with the personalized service of its local agents. The company also offered a SaaS version of its technology, "Powered by Zip," to third-party brokerages seeking to enhance their online presence and lead generation capabilities.
In July 2014, global real estate leader Realogy Holdings Corp. (now Anywhere Real Estate) announced its acquisition of ZipRealty for approximately $166 million in an all-cash deal. The acquisition included both ZipRealty's brokerage operations, which spanned 23 markets with 1,800 agents, and its technology platform. Following the acquisition, Realogy integrated most of ZipRealty's brokerage offices into its NRT-owned Coldwell Banker branches. The technology division was later rebranded as ZapLabs LLC in June 2016, serving as an innovation hub for Realogy's various brands. By March 2017, the remaining ZipRealty sales professionals were moved to another brokerage, effectively ending its run as a standalone brokerage brand.
Keywords: online real estate brokerage, real estate technology, PropTech, Zap platform, Realogy acquisition, real estate CRM, property search portal, MLS data, residential real estate, Scott Kucirek, Juan Mini, lead generation, digital brokerage, NRT LLC, Anywhere Real Estate, real estate SaaS, home buyer tools, home seller services, real estate transaction platform