SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* BEIRNE DAVID M (Last) (First) (Middle) 2480 SAND HILL ROAD SUITE 200 (Street) MENLO PARK CA 94025 (City) (State) (Zip)	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)
	3. Date of Earliest Transaction (Month/Day/Year) 12/14/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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	12/14/2007		X		305,685	A	$3.93	3,898,181	I	See footnote(1)
Common Stock	12/14/2007		S(4)		245,587	D	$4.892	3,652,594	I	See footnote(1)
Common Stock	12/14/2007		X		305,685	A	$3.93	3,898,181	I	See footnote(2)
Common Stock	12/14/2007		S(4)		245,587	D	$4.892	3,652,594	I	See footnote(2)
Common Stock	12/14/2007		X		303,864	A	$3.93	3,875,933	I	See footnote(3)
Common Stock	12/14/2007		S(4)		244,124	D	$4.892	3,631,809	I	See footnote(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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	12/14/2007		X			305,685	(5)	12/17/2007	Common Stock	305,685	$0	0	I	See footnote(1)
Common Stock Purchase Warrant (right to buy)	$3.93	12/14/2007		X			305,685	(5)	12/17/2007	Common Stock	305,685	$0	0	I	See footnote(2)
Common Stock Purchase Warrant (right to buy)	$3.93	12/14/2007		X			303,864	(5)	12/17/2007	Common Stock	303,864	$0	0	I	See footnote(3)

1. Name and Address of Reporting Person* BEIRNE DAVID M (Last) (First) (Middle) 2480 SAND HILL ROAD SUITE 200 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* GURLEY J WILLIAM (Last) (First) (Middle) 2480 SAND HILL ROAD, SUITE 200 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SPURLOCK STEVEN M (Last) (First) (Middle) 2480 SAND HILL ROAD SUITE 200 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. David M. Beirne, 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. Beirne may be deemed to share voting and dispositive power over 2,277 warrants being reported hereunder and the 25,982 shares of Common Stock held by his family trust.

2. J. William Gurley, 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. Gurley has voting and dispositive power over 2,277 warrants being reported hereunder and 25,982 shares of Common Stock held directly by him.

3. Steven M. Spurlock, 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. Spurlock may be deemed to share voting and dispositive power over 456 warrants being reported hereunder and 5,197 shares of Common Stock held by his family trust.

4. This represents shares that were withheld by the issuer pursuant to the net exercise feature for the exercise of the warrants reported herein.

5. Warrants were immediately exercisable following issuance.

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.

	Steven M. Spurlock, by power of attorney for David M. Beirne	12/18/2007
	Steven M. Spurlock, by power of attorney for J. William Gurley	12/18/2007
	Steven M. Spurlock	12/18/2007
	** Signature of Reporting Person	Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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