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Redfin Priced, Nasdaq: RDFN

Internet-driven discount real estate brokerage.

Industry: Real Estate

First Day Return: +44.7%

Industry: Real Estate

Redfin is a technology-powered, residential real estate brokerage. We represent people buying and selling homes in over 80 markets throughout the United States. Our mission is to redefine real estate in the consumer's favor. In a commission-driven industry, we put the customer first. We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. Our revenue model is straightforward. We employ lead agents supported by internal teams, who help customers buy and sell homes. We earn commissions when those transactions close. In some cases, we introduce customers to pre-approved, third-party agents through our Redfin Partner Program. These partner agents pay us a fee when they close a referred transaction. Our efficiency results in savings that we share with our customers. Our homebuyers saved on average approximately $3,500 per transaction in 2016. And we charge most home sellers a commission of 1% to 1.5%, compared to the 2.5% to 3% typically charged by traditional brokerages.
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IPO Data
IPO File Date 06/30/2017
Offer Price $15.00
Price Range $12.00 - $14.00
Offer Shares (mm) 9.2
Deal Size ($mm) $138
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 07/27/2017
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $138
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Seattle, WA, United States
Founded 2002
Employees at IPO 2,193
Website www.redfin.com

Redfin (RDFN) Performance