Zillow CEO Credits Apple App Store Launch for $17 Billion Market Cap

Zillow's CEO, Jeremy Wacksman, made a significant career move in 2009 when he left his position at Microsoft to join a struggling real estate startup. At the time, the U.S. housing market was in crisis, with widespread layoffs and financial hardship. Wacksman's decision to leave Microsoft for Zillow was met with skepticism from friends and family, who questioned his choice to join a company that was losing money in a troubled market. However, Wacksman saw an opportunity in the chaos. He believed that his marketing background and passion for product development could help turn Zillow around.

Wacksman joined Zillow as the VP of marketing and product, just as the late Steve Jobs introduced the Apple App Store. This timing proved to be fortuitous for Zillow, as the launch of the App Store signaled a shift towards mobile technology. Wacksman, who had experience with mobile projects at Microsoft, was tasked with leading Zillow's transition to mobile. He embraced this challenge, recognizing that mobile would be the future of the company. This decision to take on additional responsibilities outside of his initial role was a pivotal moment in his career. Wacksman's willingness to say "yes" to new opportunities has been a recurring theme throughout his time at Zillow, contributing to his rise through the ranks to become the company's CEO.

Over the next 15 years, Wacksman assumed various leadership roles at Zillow, including chief marketing officer, president, and chief operating officer. His journey to the top was marked by a series of "yes" moments, where he took on new challenges and responsibilities that ultimately shaped his career. Wacksman's approach to leadership is characterized by a willingness to embrace opportunities, even when the outcome is uncertain. He believes that every experience, whether successful or not, provides valuable lessons that contribute to personal and professional growth.

Wacksman's success story is a testament to the power of seizing opportunities and embracing change. His decision to leave Microsoft for Zillow, despite the risks, has paid off significantly. Today, Zillow boasts a $17 billion market cap, and Wacksman credits his career success to the launch of the Apple App Store and his ability to adapt to new technologies. His journey serves as an inspiration for those willing to take calculated risks and embrace the unknown.