Valiant Capital was reported stating that the stock in real estate portal Zillow is among its picks of portfolio, subsequently boosting online shares in the online real estate platform.
The huge advantage Zillow has here is so much traffic already coming to its site, Valiant President and Founding Partner Chris Hansen said from the Sohn Conference in New York. He added that Zillow is set for another big rally as they move to “flex” their competitive advantage and take of piece of the typical real estate commission.
“We think there’s another big stair-step for this business coming,” Hansen said.
Hansen lauded the company for its no-hassle design, allowing customer to bypass onerous tasks like hiring an agent, fixing up the home, and others. He also highlighted that Zillow will offer to buy some homes in as little as 7 to 10 days.
Valiant Capital Management is a $2.7 billion global long/short equity hedge fund founded by Christopher R. Hansen in March 2008. Prior to that, Christopher Hansen was a Managing Director of Blue Ridge Capital from 2001 to January 2008. Mr. Hansen is the President and portfolio manager of Valiant and is supported by six junior partners who serve as senior analysts.
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