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Intangible Assets, Net | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, Net | Intangible Assets, Net The following tables present the detail of intangible assets, net as of the dates presented (in millions):
| September 30, 2025
| Cost |  | Accumulated Amortization |  | Net
Customer relationships | $ | 194 |  |  | $ | (46) |  |  | $ | 148 |
Software | 115 |  |  | (46) |  |  | 69 |
Developed technology | 59 |  |  | (28) |  |  | 31 |
Trade names and trademarks | 47 |  |  | (28) |  |  | 19 |
Purchased content | 23 |  |  | (17) |  |  | 6 |
Total | $ | 438 |  |  | $ | (165) |  |  | $ | 273 |
| December 31, 2024
| Cost |  | Accumulated Amortization |  | Net
Customer relationships | $ | 94 |  |  | $ | (29) |  |  | $ | 65 |
Software | 101 |  |  | (39) |  |  | 62 |
Developed technology | 102 |  |  | (51) |  |  | 51 |
Trade names and trademarks | 47 |  |  | (25) |  |  | 22 |
Purchased content | 22 |  |  | (15) |  |  | 7 |
Total | $ | 366 |  |  | $ | (159) |  |  | $ | 207 |
On February 6, 2025, we entered into a partnership with Redfin Corporation (“Redfin”), making Zillow the exclusive provider of multifamily (properties with 25 or more units) rental listings on Redfin and its sites, including Rent.com and ApartmentGuide.com (together, “Redfin Rental Network”). Pursuant to this rentals partnership, Zillow made a $100 million payment to Redfin that is included in customer relationships in the table above and is being amortized over the estimated useful life of nine years. Zillow also pays Redfin for leads generated through the Redfin Rental Network for an initial period of five years with two optional two-year extensions, subject to the terms of the underlying agreements. Amortization expense recorded for intangible assets was $22 million and $20 million for the three months ended September 30, 2025 and 2024, respectively, and $64 million and $58 million for the nine months ended September 30, 2025 and 2024, respectively. We did not record any impairment costs related to intangible assets for the three or nine months ended September 30, 2025 or 2024. Estimated future amortization expense for intangible assets, including amortization related to future commitments (see Note 11), as of September 30, 2025 is as follows (in millions):
Remainder of 2025 | $ | 20 |
2026 | 72 |
2027 | 61 |
2028 | 37 |
2029 | 29 |
Thereafter | 62 |
Total future amortization expense | $ | 281 |

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