Zillow (Z), the leading online real estate marketplace in the US, plans to raise $59 million by offering 3.5 million shares at a price range of $16 to $18, 31% above the midpoint of the original filing. Zillow is one of seven IPOs scheduled to price this week on the US IPO calendar.
Zillow was developed by the founders of Expedia.com, who sought to translate their success in aggregating travel data for consumer convenience into a new offering designed to similarly transform the real estate market. The name "Zillow" stems from the founding idea of providing zillions of data points for US properties, even those that are not currently listed. Currently, the company maintains data and property estimates ("Zestimates") on over 100 million US home and rental properties, of which 28 million have been updated by individuals and real estate agents.
Read more about Zillow's business, risks and outlook. For information on how to obtain our complete Pre-IPO research with rating on Zillow, please contact Renaissance Capital.
Zillow's upcoming deal joins a wave of recent Internet IPOs, with more expected to file in the coming months. The last time general interest in IPOs was as widespread as it is now was in the dot-com bubble just over ten years ago. It is tempting at first glance to compare the current environment to the bubble. However, there are significant differences between the two timeframes.
