Redfin’s long-awaited IPO went well for the Seattle-based technology-powered real estate brokerage this morning. They priced the IPO at $15 per share last night, raising $138 million for the company. When shares started trading on the open market this morning under the ticker symbol RDFN they opened at $19.56.
News broke late this afternoon that after 13 years as a “startup,” Redfin has finally filed their S-1 with the SEC, signalling their intent to make an initial public offering (IPO) later this year.
Let’s take this opportunity to directly compare some financial and usage data between Redfin and Zillow.
Local alternative brokerage Surefield added another slick new tool to their arsenal this week: A map-based home pricing tool that they are calling Pricepoint. Together with their flagship 3D home tour technology (previously spotlighted here), this new offering strengthens Surefield’s focus on home sellers.
The tool offers an interactive, transparent alternative to Zillow’s black box “Zestimates,” and is touted by Surefield as “the most accurate and reliable way to price a home.”
A little over a year ago, I wrote a series of posts in which I argued that “shadow inventory” (foreclosed homes held off the market by the banks) was nearly non-existent. "Shadow Inventory" Conspiracy Theories Are Nonsense Shadow Inventory Gut Feelings, Rumors, & Anecdotes Undocumented Shadow Inventory Scarce in King County Despite all of the […]
Full disclosure: The Tim is currently a Redfin shareholder. Well this is interesting. Redfin was one of the last real estate search sites to integrate Walk Score into their listing pages. Today Redfin announced that they have acquired Walk Score. From Redfin’s blog post: The acquisition is Redfin’s first and the reason for it is […]
Full disclosure: The Tim was employed by Redfin, and is currently a shareholder. Read the series intro: Alternative Brokerages Flourishing Around Seattle First up in our in-depth series on alternative brokerages around Seattle is the technology-powered real estate brokerage Redfin. Redfin was started here in Seattle in 2004, and currently serves buyers and sellers in […]
Full disclosure: The Tim was employed by Redfin, and is currently a shareholder. WaLaw Realty and Quill Realty are current advertisers on Seattle Bubble. For some reason, the Seattle area has become home to the cutting edge of real estate. On the technology front, we’re home to Redfin, Estately, Zillow, ActiveRain (a division of Trulia), […]