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What Went Wrong With Zillow? A Real-Estate Algorithm Derailed Its Big Bet

What Went Wrong With Zillow? A Real-Estate Algorithm Derailed Its Big Bet

When executives at Zillow Group Inc. pored over the company’s earnings in the spring, they saw a problem: The real-estate firm was making too much money.

Zillow, which rose to prominence with online listings, had bet its future on an algorithm-based home-flipping outfit called Zillow Offers, which would buy houses, make minor renovations and sell quickly.

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