Zillow’s brought in a new CEO, Sepncer Rascoff, to head up the real estate website. Rich Barton, Zillow co-founder, has been the company’s CEO since its launch in 2005, though he will remain actively involved as executive chairman of the board of directors. Lloyd Frink, the other half of Zillow’s founding members and President, will move to the new role of chief strategy officer.

Rascoff has worn many hats at Zillow since joining the team in 2005, including the COO and CFO, as well as the VP of Marketing. Working with much of the company’s daily operations, he’s quite familiar with Zillow’s many aspects, from its finances to its advertising strategies. One of Rascoff’s shining moments was the recently forged deal wit Yahoo, Inc. From Zillow’s released statement:

“Working with Rich, Lloyd and the entire Zillow team has been the most exciting and rewarding period of my career,” said Spencer Rascoff, chief executive officer of Zillow, Inc. “I am extremely proud of our progress to date and even more excited about the opportunities ahead.”

The New York Times notes the ongoing success of Zillow, including the Yahoo Real Estate Listings partnership, and its extensive mobile offerings, hinting at the CEO shuffle as foresight for the company to go public;

“The move, it seems, is a precursor to Zillow preparing for an initial public offering. Zillow also said that it was profitable, and Mr. Barton said that one reason Mr. Rascoff was qualified to be chief executive was his skill at communicating with outside investors.”