This CEO has one key to success

Spencer Rascoff has been through ups and downs in his business ventures, according to CNBC.

After leaving the world of investment banking, Mr. Rascoff co-founded Hotwire. Despite a slump in online travel booking after 9/11, Hotwire eventually recovered and was acquired by IAC/InterActiveCorp.

In 2005, Mr. Rascoff moved on again and joined Zillow, where he's served as COO, CFO and vice president of marketing. He was named CEO in 2010. Since then, Mr. Rascoff has assisted in leading Zillow to its IPO and helped it gain an average of 124 million unique users per month.

This 40-year-old CEO has accomplished so much already. What's his key to success?

Hiring smart.

"By far the biggest contributor to my success has been my ability to recruit and retain great people around me," Mr. Rascoff said, according to the report. "Surround yourself with people that are even better than you. If your direct reports are amazing, that will reflect upon you."

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