That didn’t take long. A little more than two months after its initial public offering, Zillow has been added to the Russell 2000 and Russell 3000 Indexes. The addition will take place after the close of the stock market today.
“We’re proud to be included in the Russell Indexes as it’s another important milestone for Zillow,” said Zillow CEO Spencer Rascoff. “Zillow participates in massive markets around homes and real estate, and we’ve created a vibrant, home-related marketplace for consumers and professionals. We have a significant growth trajectory and are laser-focused on growing Zillow’s brand and business over the long-term.”
The addition is significant for Zillow as it brings added exposure for the online real estate company.
Zillow also didn’t have to go too far to get added to the Russell indexes. The company just moved to a new headquarters in downtown Seattle which happens to be in the … Russell Investments Center.
Zillow’s shares are taking a beating today, down more than six percent to $26.27. The company now boasts a market value of $724 million.