As Zillow looks to further develop and execute its Housing Super App vision, the firm has decided to shake up its C-suite. Jeremy Hofmann is Zillow Group’s new chief financial officer, according to an announcement on Thursday.
“Jeremy has been an integral part of Zillow’s growth since he joined the company,” Rich Barton, the CEO and co-founder of Zillow, said in a statement. “He’s at the center of our strategy to capture a greater share of customer transactions in real estate while making it easier for more and more people to get home. Jeremy is key in driving progress on our growth strategy with operational and financial discipline, and I’m looking forward to him having an even bigger hand in shaping the future of Zillow as our CFO.”
According to Zillow, Hofmann has led the firm’s Housing Super App strategy and execution since early 2022.
Hofmann, who joined Zillow Group nearly six years ago and has most recently served as the firm’s senior vice president of corporate development and strategy, will succeed Allen Parker in the role. Parker, who has served as CFO since 2018, has transitioned to an advisory role and will be in that role until the first quarter of 2024. As of the announcement, Hofmann was overseeing Zillow’s finance, corporate development, strategy and investor relations team.
“Allen brought an operating mindset and focus on processes through a changing macroeconomy and Zillow’s strategic shift toward the transaction,” Barton said. “We’re very grateful for Allen’s leadership over the past five years, and for his continued support of the team over the next few quarters to ensure a smooth transition.”
Prior to joining Zillow, Hofmann spent nearly a decade in financial services, primarily at Goldman Sachs where he served as a vice president in investment banking, closing more than $40 billion in transactions.
In addition to his involvement with the Housing Super App, Hofmann has driven Zillow’s capital management programs since 2019, raising more than $2.5 billion of equity capital over the past five years. He also initiated a $1.8 billion share repurchase program in 2021 and led the acquisition of ShowingTime in 2021.
“Being part of Zillow’s growth over the last six years has been incredibly rewarding,” Hofmann said in a statement. “Zillow has always been a leader in delivering transformative tech-enabled solutions for customers and partners in real estate, and I couldn’t be more optimistic about the opportunity in front of us. I’m excited to take on this new challenge, leading our business with a strong focus on driving revenue and prudently managing costs on behalf of our shareholders.”
Zillow first announced its Housing Super App vision in February 2022, during its fourth quarter 2021 earnings call after it infamously shut down its iBuying operation in November 2021. While details have been murky at times, Zillow’s Housing Super App vision has taken shape, as the firm looks to integrate the home buying and selling process for consumers and agents through the expansion of Zillow Home Loans, changes to Premier Agent, and its partnership with Opendoor.