SEATTLE, Nov. 9, 2011 (GLOBE NEWSWIRE) -- Zillow, Inc. (Nasdaq:Z), the leading real estate information marketplace, confirmed today that the pricing conditions for automatic initial release of 25 percent of the securities subject to the lock-up agreements entered between its pre-IPO security holders and Citigroup Global Markets Inc., as representative of the underwriters of its IPO, have been satisfied. Because Zillow issued its earnings release for its third quarter of 2011 results on Nov. 2, 2011, the effective date of this partial release will be deferred until Nov. 20, 2011. Thereafter, the shares of common stock subject to the partial release will become available for resale subject to applicable restrictions under the federal securities laws, unless the effective date of the initial partial release is further deferred in accordance with the terms of the lock-up agreements. Zillow does not intend to issue another press release regarding the partial release.
About Zillow, Inc.
Zillow (Nasdaq:Z) is the leading real estate information marketplace, providing vital information about homes, real estate listings and mortgages through its website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. More than 24.6 million unique users visited Zillow's websites and mobile applications in October 2011. Zillow, Inc. operates Zillow.com®, Zillow Mortgage Marketplace, Zillow Mobile, Postlets® and Diverse Solutions™. The company is headquartered in Seattle.
The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012
Zillow.com, Zillow and Postlets are registered trademarks of Zillow, Inc. Diverse Solutions is a trademark of Zillow, Inc.
This press release is not an offer for sale of the securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.
CONTACT: Kevin McCarty