Zillow real estate value website sets IPO price

Jul 07, 2011
Startup Zillow that provides online information about real estate has set the price for its initial public offering of stock at $12 to $14 per share.

Startup Zillow that provides online information about real estate has set the price for its initial public offering of stock at $12 to $14 per share.

Zillow planned to sell 3.462 million shares of common stock, which would raise from $41.5 million to $48.5 million depending on share price, the firm said in a filing Wednesday with the US .

The higher valued the company at close to $400 million.

Zillow said that it will raise an additional $5.5 million in a private placement of stock with Technology Crossover Ventures.

The Seattle, Washington-based real estate valuation website launched in 2006.

Zillow.com is an online resource for estimated home prices, rental potential, tax records, sales histories and other information about US properties.

The website made its debut backed by 32 million dollars in venture capital funding and was co-founded by Richard Barton, creator of online travel service .

Zillow billed itself as the leading real estate information marketplace and said in the filing that it was "transforming the way people make home-related decisions."

Zillow said in the paperwork that it is not making a profit and reported a net loss of $865,000 in the three months ending March 31 of this year.

Explore further: Jury decides Silicon Valley firm did not discriminate

add to favorites email to friend print save as pdf

Related Stories

LinkedIn looking for $32 to $35 per share in IPO

May 09, 2011

(AP) -- Professional networking website LinkedIn Corp. hopes to sell its stock for $32 to $35 per share in an upcoming initial public offering. Its IPO may encourage other growing Internet services to make ...

Pandora hopes IPO will raise $123 million

Jun 03, 2011

Pandora Media Inc., which announced plans earlier this year to sell its stock in an initial public offering, said it and its investors were seeking to raise as much as $123 million - an amount that would value the Internet ...

Recommended for you

Intel in talks with Altera on tie-up

Mar 27, 2015

US tech giant Intel is in talks with rival Altera on a tie-up to broaden the chipmaker's product line amid growth in Internet-connected devices, the Wall Street Journal reported Friday.

Apple chief Cook to give his wealth away: Fortune

Mar 27, 2015

Apple chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate their wealth to charities, according to a report in Fortune magazine.

BlackBerry tops 4Q profit forecasts

Mar 27, 2015

BlackBerry posted a surprise profit in the fourth quarter, but saw a sharp drop-off in revenue as the once-iconic smartphone company said it reached the halfway mark of its turnaround effort.

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.