In a matter of months, Pete Flint’s only direct connection with the online real estate pioneer he helped found will be the stock he owns in the company that was once his fiercest competitor.
Back in 2005, Sami Inkinen and Pete Flint founded Trulia, which would soon become one of the premier sites in online real estate. Ten years into the company’s existence, Trulia was acquired by Zillow, in a move that combined the two former rivals.
The acquisition ended up costing Zillow $2.5 billion and led to the founding of the Zillow Group, which now includes the brands Zillow, Trulia, StreetEasy, HotPads, and Naked Apartments.
As part of the deal, Flint, who served chairman of Trulia’s board of directors from June 2005 through February 2015 and as Trulia’s chief executive officer from June 2005 until March 2015, joined the Zillow Group board of directors.
But soon, Flint will be stepping down from Zillow Group’s board, leaving behind the company he and Inkinen founded nearly 12 years ago.
Zillow Group quietly made the announcement about the end of Flint’s tenure with the company in a filing with the Securities and Exchange Commission.
The filing is focused on the addition of April Underwood, who currently serves as vice president of product at Slack, to the company’s board.
But under that section, the company discloses the details of Flint’s departure from the board – in five brief sentences .
According to the SEC filing, Flint told the Zillow Group board earlier this month that he does not plan to stand for re-election to the board when his current term ends later this year.
The filing states that Flint’s term on the board expires at the company’s 2017 shareholder meeting. The dates of that meeting have not yet been announced, but for reference, Zillow Group’s 2016 shareholder meeting took place in June.
The filing also states that Flint’s departure is voluntary, adding that Flint said that his stepping down is “not due to any disagreement with the company on any matter relating to the company’s operations, policies, or practices.”
The section on Flint concludes: “The board expresses its sincere appreciation for Mr. Flint’s service to the company and the valuable contributions he has made to the company’s success.
The section on Underwood is far more detailed.
Before joining Slack, a messaging platform, in 2015, Underwood served as the director of product at Twitter, a post she held for five years.
Earlier in her career, Underwood held positions at Google, Travelocity, and Intel.
In an accompanying release, Zillow Group co-founder and executive chairman, Rich Barton, said that the company is pleased to add Underwood to its board.
“April is widely recognized as an outstanding leader in the technology community," Barton said.
“Her extensive experience and unique perspective in technology product development, engineering, innovation and consumer engagement, as well as her deep understanding of the mobile and internet industries, will be a significant asset to Zillow Group's board of directors,” Barton added. “We are thrilled that she has agreed to join and I look forward to her contributions toward Zillow Group's long-term success.”
According to the SEC filing and the release, Underwood is joining Zillow Group’s board immediately.
“I have long been inspired by Zillow Group's mission to build the largest, most trusted and vibrant home-related marketplace in the world. I am honored to join the board of directors," Underwood said. “Zillow Group's people, culture, brands and partnerships are impressive and I look forward to working closely with Rich, Spencer (Rascoff) and the other board members to help support the company's continued success.”
