-
Zillow’s Shuttered Home-Flipping Business Lost $881 Million in 2021
Zillow Group Z -1.75{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} said on Thursday that it missing $881 million on its algorithmic-driven house-flipping business very last year in its to start with earnings report due to the fact the authentic-estate enterprise shut down that procedure in the slide. The full firm, which involves Zillow’s profitable dwelling-listing and promoting business enterprise, posted a consolidated net loss of $528 million in 2021, typically because of its household-flipping business, Zillow Presents. The flipping outfit experienced been liable for the the greater part of Zillow’s profits in the latest many years but none of its profits. The corporation stunned the industry in November by announcing it was closing Zillow Features since…