Zillow Faces Long-Term Threat from Google's New Ad Platform

1 day ago

Alexandra Seova

"Shares of the company are tumbling today. It looks like it's down about 8.4% right now. This is after a report that Alphabet's Google has begun testing a new advertising platform for real estate listings. This threatens portals like Zillow and of course some of its competitors. If you look at CoStar Group, which is ownerofhomes.com, it also fell as much as 9.1% today to a July 2022 intraday low. Uh Google's listings basically allow users to view full details of a property right as you search it. You can request a tour, contact the agent. Uh Goldman Sachs said they don't expect a direct near-term hit, but this could be a problem in the long run."

The discussion highlights Zillow's significant share decline, attributed to competitive pressure from Google's new advertising platform aimed at real estate listings. While immediate impacts may be limited, the long-term competitive threat could pressure Zillow and similar companies as consumer behavior shifts.

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