Zillow Jumps Into IPO Fray, to Raise $49M

Online real estate information startup Zillow Inc., which runs the Zillow.com website, has jumped into the initial public offering (IPO) frenzy and seeks to raise up to $48.5 million in stock.
Zillow Jumps Into IPO Fray, to Raise $49M
Homepage of Zillow Inc, an online real estate information startup company. Zillow has jumped into the initial public offering (IPO) frenzy and seeks to raise up to $48.5 million in stock. Screenshot from zillow.com
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<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/zillow32.jpg" alt="Homepage of Zillow Inc, an online real estate information startup company. Zillow has jumped into the initial public offering (IPO) frenzy and seeks to raise up to $48.5 million in stock. (Screenshot from zillow.com)" title="Homepage of Zillow Inc, an online real estate information startup company. Zillow has jumped into the initial public offering (IPO) frenzy and seeks to raise up to $48.5 million in stock. (Screenshot from zillow.com)" width="320" class="size-medium wp-image-1801217"/></a>
Homepage of Zillow Inc, an online real estate information startup company. Zillow has jumped into the initial public offering (IPO) frenzy and seeks to raise up to $48.5 million in stock. (Screenshot from zillow.com)
NEW YORK—Online real estate information startup Zillow Inc., which runs the Zillow.com website, has jumped into the initial public offering (IPO) frenzy and seeks to raise up to $48.5 million in stock.

The Seattle-based company, in a Securities and Exchange Commission filing this week, will price its shares between $12 and $14. Assuming a $13 per share initial offering, the share sale estimates the value of the firm to be around $350 million.

Zillow, through its website, has listings of homes, mortgage rate calculator, home buying advice, and offers other services.

Zillow’s chief competitors in the online real estate listings market include Trulia, Move, and regional classified ads websites. It was co-founded by Expedia.com creator Richard Barton.

Although the company has incurred significant losses since its inception, it trimmed its losses down to $6.8 million last year, from $12.8 million in 2009 and $21.2 million in 2008. Its number of “Premier Agent” subscribers have also shot up—with 10,710 at the end of March, a 32 percent increase from the end of last year. The company sells targeted advertising based on customers’ home zip codes.

Zillow will become the latest online company to go public, after professional networking site LinkedIn and online radio provider Pandora Media. LinkedIn’s shares more than doubled in its first day on the market. Chicago-based Internet coupon site Groupon Inc. also filed an IPO last month.

The most highly anticipated upcoming IPOs may be microblogging site Twitter Inc. and social networking platform Facebook Inc. Twitter is planning to go public later this year, and Facebook may file an IPO in 2012.

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