Zillows CEO Tom Szkutak said that the company has more than doubled its research and analytics team in just three years, bringing on two people with PhDs in statistics and machine learning.
The company also expanded its digital advertising efforts, and Szkultak said it now has more digital ads on its site than ever before.
But Zillowers stock price is also going through a pretty significant transformation in recent months.
In May, the company went public at $18 a share.
Today, the stock is trading at $12.00.
As we reported last week, Zillower’s stock price fell by a whopping $5.7 billion to $13.97 in late August, which was the largest one-day drop in its history.
So, if you’re looking for a stock to buy right now, the most recent price drop would likely be a good time to buy.
If you want to keep your ZillOW stock, though, the news that Zilloyd is being acquired by the Google group is even better news.
Google acquired Zillowell for $1 billion on July 4.
Zillow CEO Tom Zylinski told CNBC in an interview that he expected the deal to close “next week.”
The deal also includes the remaining 10 percent of Zilloway’s shares.
We’ve contacted Zylinskis company for more details, and will update this article when we hear back.
For now, though…
Zillower stock price remains higher than Zillenow’s, and even Zillillows stock price appears to be on a downward trend.
It’s also worth noting that while Zillowed stock price may be going down, Zilow shares are actually up by almost 10 percent in the past 12 months.