Redfin Files for IPO
Just read on Reuters that Redfin is filing for IPO.
The lead underwriter is Goldman Sachs and Redin is seeking to raise $100,000,000.
Below are some key points from the article.
Based in Seattle, Redfin launched its home-buying services in February 2006. It charges customers a commission of 1.5 percent, less than half the average listing fee, to list their homes, according to its website, which says it has helped more than 30,000 families buy and sell homes. Redfin generated a loss of $22.5 million on $267.2 million of revenue in 2016, the filing said.
More information from Geekwire.
The 13-year-old self-described “technology-powered real estate brokerage,” which has been a recent candidate to test the public markets, is active in more than 80 markets across the U.S. It has helped customers buy or sell more than 75,000 homes worth more than $40 billion combined. Redfin reported 20 million monthly active visitors to its site and mobile app in Q1 of this year, which was up 44 percent year-over-year.
Do you think that Redfin will raise $100,000,000? How do you think its IPO will go? Would you buy some shares of Redfin or short it?
Edit: Post will be updated as more information is released
