Zillow Boosts IPO Pricing
Web-based real-estate information service Zillowhas raised its IPO per share price range to $16-18, up from an earlier range of $12-14, according to a revised S-1 filing the company submitted this morning. Zillow still plans to sell 3.462 million shares in its public offering, which would net the company $469 at the current median valuation. The company had filed its initial paperwork last week, with Citigroup (NYSE:C) as the lead underwriter for the offering. Zillow will trade on the Nasdaq (NASDAQ:NDAQ) under the ticker (Z).
Here’s a look at the company’s most recent financial data, via Forbes, “In 2010, Zillow had revenue of $30.5 million, up from $17.5 million in 2009. The company lost $6.8 million in 2010, an improvement from the $12.9 million lost in 2009. In the March quarter, Zillow had revenue of $11.3 million, up from $5.3 million a year earlier. The company lost $826,000 in the latest quarter, compared with a loss of $2.8 million in the comparable year-earlier quarter.”