In a move many believe will help expand Zillow’s iBuying business - Zillow Offers* - the company is issuing $1.1 billion in short term bonds. Zillow’s CEO, Rich Barton previously said that he sees Zillow Offers as being a $20 billion business.
While Zillow did not specify what the additional capital would be used for, some will fund the expansion of their mortgage company and the launching of title and escrow services.
*Zillow buys a seller’s home outright and closes the transaction quickly for a fee.