Zillow.com, a pre-launch consumer online real estate service, today announced it received a Series A round of financing with investors Benchmark Capital and Technology Crossover Ventures.
Bill Gurley, general partner at Benchmark Capital, and Jay Hoag, founding general partner at Technology Crossover Ventures, will join Zillow’s board of directors.
The financing terms were not disclosed.
“Both Benchmark and TCV have proven track records of identifying and investing in innovative companies, and we’re thrilled to have them help us build something great,” said Rich Barton, chairman and CEO of Zillow.com.
Zillow.com is developing a new online real estate service that aims to make it easier for everyone to get an edge in the home buying and selling process. The company was founded in early 2005 by Barton, founder and former CEO of Expedia, and Lloyd Frink, former senior vice president at Expedia.
Zillow has not yet announced a launch date or specific details of the business.
In addition to Bill Gurley and Jay Hoag, Zillow’s board of directors includes Barton; Frink; Greg Maffei, president and CFO of Oracle; Gordon Stephenson, co-founder and managing broker of Real Property Associates; and Erik Blachford, former CEO of Expedia.
The Seattle startup hasn’t publicly revealed details about how its online business model will work, but early recordings at the U.S. Patent and Trademark Office indicate that company has plans for some kind of online marketplace for real estate listings.
Specifically, one record at the Patent Office is for providing an online computer database and online searchable database featuring information and listings for real estate, and to provide real estate research services.
The record also notes the design of computer software, and providing online computer services for real estate, consumer goods and consumer services.
Another patent and trademark record drops hints of plans for an Internet auction business for real estate and online services featuring tours of residential and commercial real estate.
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