Zillow Appoints New CFO Amid Push To Build Super App
Jeremy Hofmann has performed a key function within the tremendous app push to date and likewise oversaw Zillow’s acquisition of ShowingTime, the corporate stated.
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As the corporate continues its push to construct a brand new “housing tremendous app,” Zillow introduced Thursday that it has appointed a brand new chief monetary officer who in his earlier function was a key determine in that app’s growth.
Jeremy Hofmann was a senior vice chairman of company growth and technique however took over as Zillow’s CFO efficient Thursday. Hofman joined the corporate virtually six years in the past and has expertise with “technique, finance, budgeting and operations rigor, investor relations, mergers and acquisitions and partnerships,” a press release from Zillow notes.
The assertion provides that Hofmann “led Zillow’s redefined housing tremendous app technique in early 2022 and has been a key driver of its execution over the previous 18 months.”
Zillow first revealed plans for a brilliant app in 2022 after asserting an finish to iBuying operations months earlier. Since then, CEO Wealthy Barton has repeatedly returned to the subject, together with most not too long ago in his firm’s first-quarter earnings report earlier this month. On the time, Barton indicated work on the app is ongoing.
Although it stays to be seen what the completed app may appear like, the idea typically represents a important push for Zillow because it appears to be like to develop and diversify its enterprise.
Along with main Zillow’s latest tremendous app technique, amongst different initiatives, Hofmann oversaw the corporate’s acquisition of ShowingTime in 2021, the assertion additionally notes.
Hofmann has been “key in driving progress on our development technique with operational and monetary self-discipline, and I’m trying ahead to him having an excellent larger hand in shaping the way forward for Zillow as our CFO,” Barton stated in Thursday’s assertion.
“He’s on the middle of our technique to seize a better share of buyer transactions in actual property whereas making it simpler for increasingly individuals to get residence.”
Hofmann takes over for Allen Parker, who has served as Zillow’s CFO since late 2018. Parker will now transition to an advisory function, the assertion notes.
Hofmann expressed pleasure about taking over “this new problem,” including that he plans to give attention to “driving income and prudently managing prices on behalf of our shareholders,” in response to the assertion.
“Zillow has at all times been a frontrunner in delivering transformative tech-enabled options for purchasers and companions in actual property,” Hofman stated, “and I couldn’t be extra optimistic concerning the alternative in entrance of us.”
Electronic mail Jim Dalrymple II