A break in the COVID-19 affecting the property market. Zillow's Co-Founder and former CEO, Spencer Rascoff has announced he will be leaving its Board of Directors.
Zillow stated that Rascoff's decision to leave the Board is "not due to any disagreement with the company on any matter relating to the company's operations, policies, or practices."
Rascoff said he is looking to switch focus to angel investing and help in the development and managing of two startups. These startups include an L.A. news outlet covering the startup scene in the area, dot.LA, and 'NewCo', name pending.
Rascoff has always supported the iBuying business model and worked tirelessly to implement it into Zillow's policies. He has been a part of the Board since 2011.
This is just one of the many changes Zillow is seeing as the markets shift to accommodate for the uncertainty that has arisen from the COVID-19 virus. With iBuying struggling to keep up while shelter-in-place orders are being enforced, a loss in leadership is just another cog in the machine of ever-changing blueprints for the property portal.
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