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Zillow CEO Rascoff Steps Down, Succeeded by Co-founder Barton
Zillow Group co-founder Spencer Rascoff is out as CEO, and former CEO Rich Barton (pictured) is in. Rascoff will remain on the Seattle-based company’s board of directors, while Lloyd Frink will become executive chairman. The company announced the leadership changes in connection with its fourth-quarter and full-year earnings report.
“We created Zillow Group in 2005 to make the real estate shopping and purchase process easier,” Barton said. “Much of our original dream is just now becoming possible. We are at an inflection point in this quest, and the time is right to shuffle leadership seats.”
Barton, Rascoff and Frink co-founded Zillow in 2005, and Barton served as its CEO for the first five years. Under Rascoff’s leadership, the company went public, made 15 acquisitions and grew its employee base from 200 to more than 4,000. Annual revenue has grown from $30 million to $1.3 billion.
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