initial public offerings (IPOs) trading on American exchanges

Thursday, September 20, 2012

Trulia (TRLA) started trading on the NYSE on 20 Sept 2012

Trulia’s stock (TRLA) traded up 41% to close at $24, after opening at $22.10. The online real-estate listing company priced its IPO late Wednesday at $17, above its initial expected range of $14 to $16.

The IPO market has been quiet for more than a month, as the traditional late-summer freeze extended into September.

Trulia says it had 22 million monthly unique visitors and more than 360,000 real-estate professionals using the site as of the end of June, according to the company’s filings with the Securities and Exchange Commission. The company’s revenue comes from subscription sales to real-estate professionals, as well as online display advertising.

Trulia recorded a loss of $7.6 million on revenue of $29 million for the six-month period ended June 30, according to its IPO filing. That compared with a loss of $2.6 million on revenue of $16 million in the same period a year earlier.

Trulia competes in an increasingly popular space, the market for online services geared to real-estate transactions.

One of its main competitors, Zillow Inc. (Z), had a successful IPO in July 2011. Zillow shares have doubled since the beginning of the year. Its stock was trading down 1.3% at $45 on Thursday.

CEO and Founder Pete Flint attends the Trulia IPO and rings the Closing Bell at the New York Stock Exchange on September 20, 2012 in New York City.

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