initial public offerings (IPOs) trading on American exchanges

Friday, July 28, 2017

Redfin (RDFN) started trading on the Nasdaq on 28 July 2017

  • Seattle-based, 11-year-old online brokerage company sold its shares for $15, valuing the company at roughly $1.2 billion.
  • On its trading debut, the stock closed up nearly 45%, to $20.70,  giving Redfin a market capitalization of about $1.73 billion.
  • The firm had just a 0.58% share of U.S. existing home sales by dollar volume in the first quarter this year, according to its IPO filing.  Coldwell Banker Residential Brokerage, had a 6.1% share in the 12 months ending June 30.
  • The company is now in more than 80 markets across the U.S., including Southern California, Seattle and San Francisco.

Redfin’s website and app also let users search a map for homes on the market, regardless of the listing brokerage, and they provide an estimate of what homes are worth, even if they are not for sale — the same features of popular website Zillow.

But unlike Zillow, which is not a brokerage, Redfin has its own agents. And the company even does

that differently than most brokerages, employing them as salaried employees, rather than as independent contractors paid through sales commissions.

Redfin says its online tools mean it can spend less on marketing than typical brokerages do to find customers. And that allows it to demand less in commissions, resulting in savings for clients of $3,500 on average last year.

Key stats and ratios

Q1 (Mar '17)2016
Net profit margin-46.88%-8.43%
Operating margin-46.97%-8.53%
EBITD margin--6.17%
Return on average assets-89.92%-17.43%
Return on average equity--


3055 112th Ave NE Ste 100
United States 


Redfin Corporation is a United States-based real estate broker company. The Company provides real estate search and brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. Redfin Builder Services is its sales platform designed specifically for home builders and condominium developers. Redfin Builder Services support product analysis, digital marketing, media, listing management and sales, pricing, and reporting. The customer can search homes for sale in Austin, Atlanta, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Fort Lauderdale, Houston, Lake Tahoe, Las Vegas, Los Angeles, Miami, New York, Philadelphia, Phoenix, Portland, OR, Raleigh, San Antonio, San Diego, San Francisco, Sacramento, San Jose, San Luis Obispo, Santa Barbara, Seattle, Washington, and West Palm Beach.

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