Yes, Zillow has answered the question regarding the return of the stock bubble of the 90's. A fool and his money are soon parted. The set price for their initial public option (IPO) was set at $20 and soared to over $60 before it settled at around $35 a share. Not bad for a company that shows nothing but red ink on its books.
Now don't get me wrong. I have never liked Zillow. But, I respect them. They just did to real estate agents what the Broker's wanted to do to us salesmen along time ago. In fact, the new, Realtor Property Resource (RPR) is really just a copy of what Zillow started providing home owners and buyers since 2005 with its Zestimates. Of course, the regime at the National Association of REALTORS (NAR) will deny the allegation. But, come on. Look at Zillow, Trulia and Realtor dot com and tell me which is the better web site.
And, so what if they never turned a profit. Can anyone say the REALTOR dot com web site would be profitable without the forced contributions from all the salespersons money being sucked out of our wallets? Nor, does it really matter that China has also entered into a dot com bubble similar to America's bubble and crash of the 90's.
No. Like the song says, Nothing really matters to me. However, I am curious as to how many shares were purchased by the National Association of REALTORS.