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Real Estate Market Finally Catches Up To Web Realty Firm
Silicon Alley Insider — ... , in a special on how furious it was making traditional brokers. But alas the party may coming to an end, for now. The company just announced that it was laying off 20 percent of its staff, amid a severe slump in activity: ...

Redfin Layoffs Bode Ill for Real Estate Startups
Xconomy — ... Is this the beginning of the end for online real estate companies? Yesterday, Seattle-based Redfin announced it had laid off roughly 20 percent of its employees, leaving it with a staff of about 75 spread across Seattle, Boston, Los Angeles, Washington DC, and Chicago. ...

Keeping Count: The TechCrunch Layoff Tracker
TechCrunch — ... their belts for a long winter. As the slide above from Sequoia Capital illustrates, belt-tightening now may be the most prudent thing a startup can do. While nobody likes layoffs, least of all the employees losing their jobs, it increases a startup’s chance for survival by reducing how much cash they burn each month. This week alone, we’ve seen layoffs at Zillow, Pandora, Zivity, AdBrite, Hi5,, Jive Software, and Redfin (which laid off 20 people). The week before was Seesmic, and before that ...

Real Estate Woes (Finally) Hit Zillow, RedFin
BIA/Kelsey Local Media Watch — ... RedFin CEO Glenn Kelman said, on his company blog, that the company was doing fine until just after Labor Day. “We’ve fought like starving animals, and with some success: while industry-wide transaction volumes dropped 33 percent, we grew revenues by nearly 50 percent. Traffic grew more than 300 percent. ...