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  "documentTitle": "Zillow Group, Inc. (Z)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-03-05 00:00:00",
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      "text": "Zillow went public in 2011. Since then, its business model has not materially changed. While Zillow likes to position itself as a growth-oriented company in its marketing, we believe there is strong evidence to show the business has matured.",
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      "text": "Rentals: #1 Traffic and >1M Listings Driving Substantial Growth",
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      "text": "Showcase Share of Total Active Listings",
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      "text": "Total Transaction Value (TTV) Historical Growth",
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      "text": "Historical Existing Homes Turnover",
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      "text": "Source: Z Investor Presentation (February 2024)",
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      "text": "Clear Path for Our Growth Pillars Ahead",
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      "kind": "title",
      "text": "Zillow Continues To Position Itself As A Growth Company",
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