Zillow, Inc., which operates an online marketplace providing detailed real estate information on 100 million US homes, filed on Monday with the SEC to raise up to $52 million in an initial public offering. The Seattle, WA-based company, which was founded in 2004, booked $30.5 million in sales last year, up from $17.5 million in the year ago period. The company turned EBITDA positive in mid-2010. Citi is the lead underwriter on the deal. Pricing terms and timing were not disclosed.
Zillow joins a growing list of fast-growing Internet companies to file for an IPO so far in 2011 in what is shaping up to be an active year for US-based Internet and new media IPOs. Recent IPO filers include leading online professional network Linkedin (LNKD), online vacation rental marketplace HomeAway (AWAY) and Internet radio provider Pandora Media (P). Many more high profile US Internet companies are anticipated to file for an IPO in the coming months.
