LegalZoom Announces Sale of Austin, Texas Facility for Approximately $38 Million in Cash
Opens new leased office locations in Austin and Los Angeles to foster collaboration and innovation
LegalZoom.com, Inc. (NASDAQ:LZ), a leading online platform for legal services, today announced the sale of its previously owned office building as of March 31, for approximately $38 million in cash.
The company also announced the opening of new leased office spaces in Austin, Texas, and Sherman Oaks, California, designed to better align with the company's current needs. The moves underscore LegalZoom's commitment to a strong balance sheet and fostering collaboration, innovation, and employee engagement as the company continues to build its presence in these key markets.
"The sale of our Austin facility bolsters our cash position and increases flexibility as it relates to our capital allocation strategy. Looking ahead, we will continue to balance investments in our business to support our strategic growth plans alongside opportunistically returning value to shareholders in the form of share repurchases," said Noel Watson, Chief Operating Officer and Chief Financial Officer at LegalZoom.
LegalZoom's footprint now includes offices in Mountain View, CA; Frisco, TX; Las Vegas, NV; Reno, NV; Bengaluru, India; and Krakow, Poland.
"With the sale of our Austin office and opening of two leased spaces, we were able to increase our cash position while driving meaningful, in-person interactions to build connections and improve overall engagement," said Sheily Chhabria Panchal, Chief People Officer at LegalZoom. "Our new offices support our flexible-first and onsite employees, fostering relationship-building and collaboration."
For more information on career opportunities at LegalZoom, visit legalzoom.com/careers.
About LegalZoom
LegalZoom is a leading online platform for legal services, transforming how individuals and small businesses navigate the legal system. By combining intuitive technology with access to experienced attorneys—whether through our vast independent attorney network or the LegalZoom-owned law firm—we offer the tools and guidance people need to confidently manage everything from business formations and compliance to estate planning and ongoing legal support.
With over two decades of experience and millions of customers served, LegalZoom helps individuals and small businesses navigate legal needs with confidence. For more information, visit www.legalzoom.com.
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