Real estate website Zillow soars in IPO debut

Jul 20, 2011

(AP) -- Shares of real estate website Zillow have more than doubled in their trading debut.

It's the latest to climb sharply in its first day of trading following strong openings from jobs networking site LinkedIn, Pandora and Russian search engine Yandex.

, founded in 2004, provides online listings for more than 100 million homes for sale and rent. The portal's "Zestimate" helps estimate property values.

Investors are bidding up Zillow Inc. stock, even though the Seattle company has never posted an annual profit.

It priced shares for $20 per share late Tuesday, $2 more than the top of the range it had predicted Friday.

In midday trading Wednesday, Zillow had risen to $43.02 after trading as high as $60 earlier in the session.

The stock is trading under the symbol "Z" on the Nasdaq exchange.

Explore further: Tesla shares jump on Musk 'tease' in tweet

0 shares

Related Stories

Zillow raises IPO expected price range

Jul 15, 2011

(AP) -- Real estate listing and information service Zillow Inc. said Friday it now hopes to raise up to $71.6 million through an initial public offering, up from its original expectation of as much as $51.8 million.

Recommended for you

Huawei reports 2014 profit up 33 percent

3 hours ago

Huawei Technologies Ltd., one of the world's biggest makers of telecommunications equipment, said Tuesday its 2014 profit rose 33 percent, helped by strong sales of smartphones.

Tesla shares jump on Musk 'tease' in tweet

15 hours ago

Tesla Motors shares jumped Monday after co-founder Elon Musk tweeted that the company would unveil as "major" new product line next month, leaving analysts guessing.

Amazon unveils move in local services

21 hours ago

US online giant Amazon said Monday it was launching a services marketplace offering to connect consumers with businesses offering anything from home improvement to piano lessons.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.