Zillow's valuation nears $400 million after pricing IPO
The online real estate listings company has priced its IPO between $12 and $14 a share.
Zillow will be worth close to $400 million once it goes public, according to documents filed with the SEC today.
The Seattle-based company, which aggregates real estate listings online, has priced its IPO between $12 and $14 a share. Once the sale is complete, it will have 27,058,139 outstanding shares. At $14 a share, the company will be worth $378.8 million.
The company plans to raise up to $55.7 million, not including over allotments, if any. In conjunction with the offering, it expects to secure an additional $5.5 million from Technology Crossover Ventures, which will buy shares at the same price as the IPO.
Zillow expects to trade on the Nasdaq under the symbol "Z."
Its two closest competitors are privately held Trulia and Move, which has a public market capitalization of $355.5 million.