Caledonia (Private) Investments Pty Limited acquires 8.88% of Zillow stock
Interesting that an Australian Private Equity fund should purchase 2.3 million shares in Zillow. That explains the reason why Zillow stock price has crept up in the last few weeks as these guys have been stake building. Maybe I need to start lobbying in Australia about Zillows nonsense zestimates so these 'investors' understand the nastiness of the business they invested in. Just looking online it shows they are secretive, so I doubt all the egotistical BS from Zillow CEO Spencer Rascoff and his 'social CEO nonsense on Twitter' will be looked on favorably by his new investors. I can't imagine for one second that Australians would tolerate the Zillow zestimate BS at home, so intrigued why these guys think that investing almost $100m makes any sense.
So Caledonia has just filed an updated Form SC13G that shows they have increased their holding in Zillow to 3.57M shares or 13.49%. Makes no sense when the B shares that Barton and Frink own have 10 votes for each A share. The way Zillow stock has fallen in the last week means that Caledonia is sitting on a paper loss on investment so they must be betting on a someone acquiring Zillow. It would be good if they demand a seat on the Zillow board so they can stop the self promoting BS that CEO spouts every time is interviewed on the appropriately named Motley Fool TV.
Yesterdays hike can all be attributable to Caledonia who filed an updated SC13G reporting that it has accumulated 15% of Zillow stock. Seems everyone else is selling and taking their profits before Z falls back to the $20's. No doubt the authorities will be looking closely at Caledonia's substantial holdings in both Zillow and Trulia and that could spell disaster for one or both stocks. Just my 2 cents as an observer who has a problem with Zillow imposing a nonsense valuation on my home and refusing a reasonable request to correct or delete it.
Today Caledonia (Private) Investments Pty Ltd filed an SC13G form that it has acquired 3.7M shares in Trulia giving it a 13.51% holding. Interesting its almost the same percentage as they have acquired in recently in Zillow. It explains the reason why both stocks have gone up recently and dispels the notion that it's attributable to increased users or business prospects by either company.