I was a bit perplexed three months ago when the Nasdaq OMX Group announced that they were removing Zillow from the Nasdaq Internet Index, noting at the time that Zillow was not an Internet company.
The weird thing about the decision was that in the same breadth that the Nasdaq OMX Group booted Zillow, they added Trulia to the Index. As I noted at the time, that was a “bizarre” choice.
Now, it turns out that the Nasdaq OMX Group has come around. According to the results of a special evaluation of the Index, Zillow has been re-added.
“In addition to qualifying for this sector, companies being added met all other continued eligibility criteria,” the organization wrote.
It’s hard to argue that Zillow, which helps real estate professionals connect with home buyers and sellers over the Internet and makes a good chunk of its revenue through online advertising,
If anything, the term Internet may be a bit outdated. Zillow, for example, sees itself as a “mobile” company more than an Internet company.
Nonetheless, Zillow is back in the mix in the Index, joining its rival Trulia.
Other companies that have been added as part of the special evaluation are: Brightcove Inc.; Ctrip.com International; NQ Mobile Inc.; Pandora Media; Support.com; SciQuest; Xoom Corporation; and YY Inc.