Scott Kucirek, ZipRealty’s executive vice president of new market development, has left the company and its board of directors “to pursue other interests and spend time with his family,” according to a statement filed with the Securities and Exchange Commission Friday.
Industry innovator Kucirek founded ZipRealty, a full-service real estate brokerage, in 1999 with fellow then-U.C. Berkeley graduate student Juan Mini. The two were the first Berkeley MBAs ever to get venture capital financing while still in school.
Kucirek’s resignation from the company’s board of directors was effective as of Nov. 4, 2005, and his resignation as an employee will be effective on or about Nov.18, 2005, according to the SEC statement.
“There are no disagreements between Mr. Kucirek and the company regarding any matter related to the company’s operations, policies or practices,” the SEC statement said.
Shares of ZipRealty on Friday slumped to their lowest level since the real estate company went public last year after it reported earnings on Thursday that missed its own estimate and were below Wall Street’s expectations.
ZipRealty operates in 14 major metro areas, most recently expanding into the Las Vegas and Houston markets. Next year, ZipRealty expects to expand into an additional four to six markets. ZipRealty offers rebates to buyers who work with its agents and discounts to sellers, and the company relies heavily on its technology platform to generate new business.
Within five years, Eric Danziger, the company’s CEO, said he expects ZipRealty to be one of the largest real estate brokerage companies in the country, employing 4,000 to 5,000 real estate agents and operating in 40 to 50 cities.
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