Interesting article from John Cook’s Venture Blog today. Zillow entered online real estate in 2005, right before the real estate market started to cool at the end of 2005. The company has grown like mad both from a traffic and headcount perspective. For some reason, Zillow spoke with John Cook today to talk about their hiring plans for 2008 – a move which is very very unusual for a private company. Zillow is reducing their hiring rate adding only 16 new employees in 2008 which is about 10%. 2008 should be a low point for the online real estate industry, so it a smart move for Zillow to reduce hiring (or perhaps even downsize as the other firms in the industry have done). Zillow had great timing in raising another $30m in Sept 2007 from Legg Mason right before the real estate bubble started to lose air.