| Founded | 2018 |
|---|---|
| Closed | 2021 |
| Country | USA |
| Sector | Proptech |
| Total raised | ~$400M invested in iBuyer program |
| Collapse type | Sudden Collapse |
| Founder | Rich Barton |
Zillow Offers
"The algorithm that was supposed to price homes perfectly lost $880M and 25% of the company's jobs"
Unexpected shutdown within weeks of a trigger
Key Events Timeline
Zillow launched its iBuyer program, Zillow Offers, in 2018 with the thesis that its vast database of housing market data and machine learning algorithms could accurately predict home values well enough to buy, renovate, and resell homes profitably at scale.
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