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: Technip, Heerema win third giant Angolan oil contract

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

IBM posts lower 1Q earnings amid hardware slump

7 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets.

New US-Spanish firm says targets rich mobile ad market

14 hours ago

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Technip, Heerema win third giant Angolan oil contract

17 hours ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

User comments : 0

More news stories

Simplicity is key to co-operative robots

A way of making hundreds—or even thousands—of tiny robots cluster to carry out tasks without using any memory or processing power has been developed by engineers at the University of Sheffield, UK.

Microsoft CEO is driving data-culture mindset

(Phys.org) —Microsoft's future strategy: is all about leveraging data, from different sources, coming together using one cohesive Microsoft architecture. Microsoft CEO Satya Nadella on Tuesday, both in ...

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

Patent talk: Google sharpens contact lens vision

(Phys.org) —A report from Patent Bolt brings us one step closer to what Google may have in mind in developing smart contact lenses. According to the discussion Google is interested in the concept of contact ...