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| Lanny Baker |
EMERYVILLE, CA – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR),
the most prominent online technology-enabled residential real estate brokerage
company, today announced that, based upon preliminary information, it expects
to achieve positive Adjusted EBITDA for the full year 2012, marking a financial
turning point for the company.
“We expect to fulfill our commitment to generate positive
Adjusted EBITDA in 2012, while strengthening ZipRealty’s core assets and
positioning the company for strong growth in the years to come,” said Lanny
Baker, Chief Executive Officer and President.
“Our redesigned
website and mobile apps are winning rave reviews, and major upgrades to our
agent platform are generating similar amounts of excitement.
“As this new phase of product innovation starts to
differentiate ZipRealty, we are extremely pleased to have achieved year to year
growth in net transaction revenue in the fourth quarter on a same market basis,
reversing negative comparisons in prior quarters.”
For a complete copy of the company’s news release, please
contact:
Stacey Corso
Public Relations Manager
ZipRealty, Inc.
(510) 735-2667
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