Zillow Real Estate is Going Public
The Zillow Real Estate Corporation is filing their first stock IPO. According to the Wall Street Journal, the Seattle based company registered with the US Securities and Exchange Commission for a $51.75 million IPO. Zillow hasn’t specified how many shares it will sell or price range, and it hasn’t yet selected a ticker symbol or an exchange to list on.
Zillow provides real estate listings to Yahoo. Incorporated in 2004, it reportedly never shown a profit although its net loss narrowed to $6.8 million in 2010 from $12.9 million in 2009.
Zillow has its own database of more than 100 million U.S. homes. In March, the site had almost 20 million unique visitors showing a year-over-year growth of more than 90%. The company generates revenue from advertising with local real estate professionals, as well as by on a per-click basis from mortgage professionals and display advertisers. In 2010, its revenue rose 74% from 2009 to $30.5 million, compared to 2009.
Zillow offers a variety of widgets and applications for websites and mobile phones. Its mobile mls application for iPhones, iPads, and other cell phones is highly downloaded.
Find out more about the Zillow apps.