- 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.
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 | - | - |
Employees | 2,164 |
Address
3055 112th Ave NE Ste 100
BELLEVUE, WA 98004
United States
BELLEVUE, WA 98004
United States
Website
https://www.redfin.comDescription
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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