Pursuant to 17 CFR Part 243 ("Regulation FD"), Zillow is submitting the below information relating to its monthly unique user metrics.

In accordance with General Instruction B.2 of Form 8-K, the information under this item shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

On February 5, 2013, Zillow released monthly unique user metrics for the month of January 2013 on the Investor Relations page of Zillow's website at http://investors.zillow.com/events.cfm (the "Zillow IR Page"). Consistent with our historical practice, in the future Zillow will only release its monthly unique user metrics on the Zillow IR Page following the close of the NASDAQ Stock Market on the fourth trading day of each month.

We count a unique user the first time an individual accesses our mobile applications using a mobile device during a calendar month and the first time an individual accesses one of our websites using a web browser during a calendar month. If an individual accesses our mobile applications using different mobile devices within a given month, the first instance of access by each such mobile device is counted as a separate unique user. If an individual accesses our websites using different web browsers within a given month, the first access by each such web browser is counted as a separate unique user. If an individual accesses more than one of our websites in a single month, the first access to each website is counted as a separate unique user since unique users are tracked separately for each domain. We measure unique users with Google Analytics. For the avoidance of doubt, the reported monthly unique users do not count individuals that access the Yahoo! Homes website in connection with our strategic relationship with Yahoo! Inc., which was entered into in 2011. Beginning in June 2012, the reported monthly unique users reflect the effect of Zillow's May 31, 2012 acquisition of RentJuice Corporation. Beginning in December 2012, the reported monthly unique users reflect the effect of Zillow's December 14, 2012 acquisition of HotPads, Inc.

The following table summarizes Zillow's monthly unique users for Zillow's mobile applications and websites for the periods presented:

                                Monthly Unique Users
                                 for the Month Ended
                                     January 31,
                                 2013            2012       2012 to 2013
                                   (in thousands)             % Change
               Unique Users        45,887        31,743                45 %