FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

BENCHMARK CAPITAL MANAGEMENT CO IV LLC 		2. Issuer Name and Ticker or Trading Symbol

ZIPREALTY INC [ ZIPR ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

2480 SAND HILL ROAD, SUITE 200 		3. Date of Earliest Transaction (MM/DD/YYYY)

10/25/2007
(Street)

MENLO PARK, CA 94025
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   10/25/2007     X    98366   A $3.93   2589108   I   See footnote   (1) (12)
Common Stock   10/25/2007     S (10)    67381   D $5.737   2521727   I   See footnote   (1) (12)
Common Stock   10/25/2007     X    28192   A $3.93   742362   I   See footnote   (2) (12)
Common Stock   10/25/2007     S (10)    19312   D $5.737   723051   I   See footnote   (2) (12)
Common Stock   10/25/2007     X    3679   A $3.93   96831   I   See footnote   (3) (12)
Common Stock   10/25/2007     S (10)    2520   D $5.737   94311   I   See footnote   (3) (12)
Common Stock   10/25/2007     X    1095   A $3.93   28826   I   See footnote   (4) (12)
Common Stock   10/25/2007     S (10)    750   D $5.737   28076   I   See footnote   (4) (12)
Common Stock                  199797   I   See footnote   (5) (12)
Common Stock   10/25/2007     X    136260   A $3.93   3787975   I   See footnote   (6)
Common Stock   10/25/2007     S (10)    93338   D $5.737   3694637   I   See footnote   (6)
Common Stock   10/25/2007     X    136260   A $3.93   3787975   I   See footnote   (7)
Common Stock   10/25/2007     S (10)    93338   D $5.737   3694637   I   See footnote   (7)
Common Stock   10/25/2007     X    136260   A $3.93   3787975   I   See footnote   (8)
Common Stock   10/25/2007     S (10)    93338   D $5.737   3694637   I   See footnote   (8)
Common Stock   10/25/2007     X    133303   A $3.93   3709348   I   See footnote   (9)
Common Stock   10/25/2007     S (10)    91313   D $5.737   3618035   I   See footnote   (9)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        98366      (11) 10/28/2007   Common Stock   98366   $0   0   I   See footnote   (1)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        28192      (11) 10/28/2007   Common Stock   28192   $0   0   I   See footnote   (2)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        3679      (11) 10/28/2007   Common Stock   3679   $0   0   I   See footnote   (3)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        1095      (11) 10/28/2007   Common Stock   1095   $0   0   I   See footnote   (4)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        136260      (11) 10/28/2007   Common Stock   136260   $0   0   I   See footnote   (6)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        136260      (11) 10/28/2007   Common Stock   136260   $0   0   I   See footnote   (7)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        136260      (11) 10/28/2007   Common Stock   136260   $0   0   I   See footnote   (8)
Common Stock Purchase Warrant (right to buy)   $3.93   10/25/2007     X        133303      (11) 10/28/2007   Common Stock   133303   $0   0   I   See footnote   (9)

Explanation of Responses:
( 1)  Shares are directly held by Benchmark Capital Partners IV, L.P. ("BCP IV").
( 2)  Shares are directly held by Benchmark Founders' Fund IV, L.P. ("BFF IV").
( 3)  Shares are directly held by Benchmark Founders' Fund IV-A, L.P. ("BFF IV-A").
( 4)  Shares are directly held by Benchmark Founders' Fund IV-B, L.P. ("BFF IV-B").
( 5)  Shares are directly held by Benchmark Founders' Fund IV-X, L.P. ("BFF IV-X").
( 6)  Andrew Rachleff, a managing member of BCMC IV, may be deemed to share beneficial ownership of the shares held by the Benchmark IV Funds. In addition, Mr. Rachleff may be deemed to share voting and dispositive power over 4,928 warrants reported hereunder and 126,122 shares of Common Stock held by his family trust
( 7)  Kevin R. Harvey, a managing member of BCMC IV, may be deemed to share beneficial ownership of the shares held by the Benchmark IV Funds. In addition, Mr. Harvey may be deemed to share voting and dispositive power over 4,928 warrants reported hereunder and 126,122 shares of Common Stock held by his family trust.
( 8)  Bruce Dunlevie, a managing member of BCMC IV, may be deemed to share beneficial ownership of the shares held by the Benchmark IV Funds. In addition, Mr. Dunlevie may be deemed to share voting and dispositive power over 4,928 warrants reported hereunder and 126,122 shares of Common Stock held by his family trust.
( 9)  Alexandre Balkanski, a managing member of BCMC IV, may be deemed to share beneficial ownership of the shares held by the Benchmark IV Funds. In addition, Mr. Balkanski may be deemed to share voting and dispositive power over 1,971 warrants reported hereunder and 50,451 shares of Common Stock held by his family trust.
( 10)  This represents shares that were withheld by the issuer pursuant to the net exercise feature for the exercise of the warrants reported herein.
( 11)  Warrants were immediately exercisable following issuance.
( 12)  Benchmark Capital Management Co. IV, L.L.C. ("BCMC IV"), the Designated Filer, is the general partner of each of BCP IV, BFF IV, BFF IV-A, BFF IV-B and BFF IV-X (collectively, the "Benchmark IV Funds"), and may be deemed to have sole voting and dispositive power over the shares held by the Benchmark IV Funds. BCMC IV and each of its managing members disclaim beneficial ownership of the shares held by the Benchmark IV Funds except to the extent of any pecumiary interest therein.

Remarks:
Alexandre Balkanski, David Beirne, Bruce W. Dunlevie, J. William Gurley, Kevin R. Harvey, Robert Kagle, Andrew Rachleff and Steven M. Spurlock are the managing members of BCMC IV, which serves as the general partner to each of BCP IV, BFF IV, BFF IV-A, BFF IV-B and BFF IV-X. Each reporting person disclaims the existence of a "group" and disclaims beneficial ownership of any securities (except to the extent of such reporting person's pecuniary interest in such securities) other than any securities being reported herein as being directly owned by such reporting person. *This report is one of three reports, each on a separate Form 4, but relating to the same transaction being filed by BCMC IV, its managing members and the Benchmark IV Funds.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BENCHMARK CAPITAL MANAGEMENT CO IV LLC
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

BENCHMARK CAPITAL PARTNERS IV LP
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

BENCHMARK FOUNDERS FUND IV LP
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

BENCHMARK FOUNDERS FUND IV A LP
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

BENCHMARK FOUNDERS FUND IV-B LP
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

BENCHMARK FOUNDERS FUND IV-X LP
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

RACHLEFF ANDREW S
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

HARVEY KEVIN
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

DUNLEVIE BRUCE
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X

BALKANSKI ALEXANDRE
2480 SAND HILL ROAD
SUITE 200
MENLO PARK, CA 94025
X


Signatures
Steven M. Spurlock, as managing member of Benchmark Capital Management Co., IV, L.L.C. 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, as managing member of Benchmark Capital Management Co., IV, L.L.C., general partner of Benchmark Capital Partners IV, L.P. 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, as managing member of Benchmark Capital Management Co., IV, L.L.C., general partner of Benchmark Founders' Fund IV, L.P. 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, as managing member of Benchmark Capital Management Co., IV, L.L.C., general partner of Benchmark Founders' Fund IV-A, L.P. 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, as managing member of Benchmark Capital Management Co., IV, L.L.C., general partner of Benchmark Founders' Fund IV-B, L.P. 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, as managing member of Benchmark Capital Management Co., IV, L.L.C., general partner of Benchmark Founders' Fund IV-X, L.P. 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, by power of attorney for each of Andrew S. Rachleff 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, by power of attorney for Kevin Harvey 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, by power of attorney for Bruce W. Dunlevie 10/29/2007
** Signature of Reporting Person Date

Steven M. Spurlock, by power of attorney for Alexandre Balkanski 10/29/2007
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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