Charting StreetEasy’s path forward? It’s complicated Zillow CEO Spencer Rascoff says experimentation with business model to come
StreetEasy may be ubiquitous in New York City, but monetizing the brand is proving “a littl爱上海同城 e more complicated,” according to Spencer Rascoff, CEO of StreetEasy parent Zillow Group.
Speaking during Zillow s first-quarter earnings call Tuesday, Rascoff said that StreetEasy continues to gobble up market share, through initiatives such as Zillow s acquisition of rental platform Naked Apartments for $13 million in February.
But StreetEasy’s diverse revenue streams, including subscriptions, display ads, and agent-advertising campaigns, mean t上海贵族宝贝论坛 he Seattle-based Zillow is finding it tricky to chart a clear course forward. Rascoff acknowledged that in order for StreetEasy to achieve its full revenue potential, Zillow has “more business model experimentation to do” before it embarks on a “full build-out of a sales team” in New York.
Company-wide, Zillow pulled in revenue of $186 million during the first quarter of 2016, up 25 percent year-over-year, executives on the call said Tuesday. In March, its consumer-facing sites – which include Zillow, Trulia, StreetEasy and others – attracted a record 166 million unique users, up 22 percent year-over-year.
But the company was far from profitable, reporting a $47.6 million loss in the first quarter, which it attributed to litigation with News Corp. and the National Association of Realtors.
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