ZILLOW GROUP INC
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
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Subsequent Event
Note 19. Subsequent Event
On February 6, 2025, we entered into a partnership (“rentals partnership”) with Redfin Corporation (“Redfin”), making Zillow the exclusive provider of multifamily rental listings (properties with 25 or more units) on Redfin and its sites, including Rent.com and ApartmentGuide.com (together, “Redfin Rental Network”). Redfin will facilitate Zillow’s entry into advertising agreements with property management companies that currently provide rental listings on Redfin. Pursuant to this rentals partnership, Zillow will make a $100 million upfront payment to Redfin and will pay Redfin for leads generated through the Redfin Rental Network for an initial period offive years withtwo optionaltwo-year extensions, subject to the terms of the underlying agreements. We have not yet completed our evaluation of the impact this rentals partnership will have on our consolidated financial statements.
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