Zillow Group's investment in the Follow Up
Boss platform will further help teams and agents deliver great
customer experiences, boost productivity and grow their
businesses
SEATTLE, Nov. 1, 2023
/PRNewswire/ -- Zillow Group has entered into an agreement to
acquire Follow Up Boss, a customer relationship management (CRM)
system for real estate professionals. Follow Up Boss gives teams
and agents a central hub to stay organized, engage customers, close
deals and grow their production. As part of Zillow Group, Follow Up
Boss will be able to invest further in improving its product
offerings, helping their clients deliver the best possible customer
experience while supercharging their businesses.
Follow Up Boss will remain an independent brand and will
continue to build its client base as a standalone product offering
while serving all existing clients, regardless of whether an agent
engages with other Zillow Group platforms.
"We're excited to have more resources to invest in new features
and functionality while still delivering the great experience our
clients enjoy today," said Follow Up Boss co-founder Dan Corkill. "Our mission remains the same — to
serve top-performing real estate teams and agents by providing
industry-leading technology to power their businesses. We know
Zillow Group shares that commitment."
Follow Up Boss also plans to continue supporting its vast
ecosystem of third-party integration partners, enabling agent
clients to keep using their preferred systems seamlessly.
Additionally, Zillow Group will continue supporting third-party CRM
integrations on the Zillow Premier Agentapp so Premier Agent
partners can work in whichever CRM they choose.
"Follow Up Boss is beloved by agents across the industry,
including many Zillow Premier Agent partners and ShowingTime+
clients. Zillow Group continues to invest in tech solutions to help
agents deliver an increasingly seamless experience for our shared
customers," said Zillow president Susan Daimler. "Follow Up Boss
has built the best CRM for agents and teams in the industry, and we
look forward to supporting its continued success so agents can
exceed the needs of today's buyers and sellers."
Zillow Group has a track record of responsibly investing in the
growth of industry tools, including in its previous acquisitions of
dotloop and ShowingTime. Security and customer data privacy are a
top priority for both Zillow Group and Follow Up Boss, and both
companies have robust processes to secure customer data. The
customer data that Follow Up Boss subscribers enter into the system
is theirs, just as it always has been, and will stay within Follow
Up Boss. In addition, Follow Up Boss will work with a third-party
validator to ensure that the data stays safe and protected under
the Follow Up Boss terms of use and privacy policy.
The acquisition purchase price includes $400 million of initial cash consideration and up
to $100 million in a potential cash
earnout. Follow Up Boss has approximately 100 full-time employees
who will join Zillow Group once the acquisition closes, including
co-founders Dan Corkill and Tom
Markov.
More information can be found at zillowgroup.com/news.
About Zillow Group:
Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate
to make home a reality for more and more people. As the most
visited real estate website in the United
States, Zillow and its affiliates help people find and get
the home they want by connecting them with digital solutions, great
partners, and easier buying, selling, financing and renting
experiences.
Zillow Group's affiliates, subsidiaries and brands include
Zillow®; Zillow Premier Agent®; Zillow Home Loans℠; Trulia®; Out
East®; StreetEasy®; HotPads®; ShowingTime+℠; and Spruce®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow
affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS
#10287 (www.nmlsconsumeraccess.org). © 2023 MFTB Holdco, Inc., a
Zillow affiliate.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that involve
risks and uncertainties, including, without limitation, statements
regarding the future performance and operation of our business, our
business strategies and ability to translate such strategies into
financial performance, the current and future health and stability
of the residential housing market and economy, volatility of
mortgage interest rates, and our expectations regarding future
shifts in behavior by consumers and employees. Statements
containing words such as "may," "believe," "anticipate," "expect,"
"intend," "plan," "project," "predict," "will," "projections,"
"continue," "estimate," "outlook," "guidance," "would," "could,"
"strive," or similar expressions constitute forward-looking
statements. Forward-looking statements are made based on
assumptions as of the date of this press release, and although we
believe the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee these results.
Differences in Zillow Group's actual results from those described
in these forward-looking statements may result from actions taken
by Zillow Group as well as from risks and uncertainties beyond
Zillow Group's control.
For more information about potential factors that could affect
Zillow Group's business and financial results, please review the
"Risk Factors" described in Zillow Group's Annual Report on Form
10-K for the fiscal year ended Dec. 31,
2022, and in subsequent quarterly and annual reports. Except
as may be required by law, Zillow Group does not intend and
undertakes no duty to update this information to reflect future
events or circumstances.
(ZFIN)
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SOURCE Zillow Group, Inc.