realestate website zillow surges in ipo
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Real-estate website Zillow surges in IPO

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleReal-estate website Zillow surges in IPO

New York - AFP

Shares of Zillow, a real-estate website that aspires to become the Amazon.com of home shopping, more than doubled in value in their first day of trading on Wednesday. Zillow shares were trading for $43.40 on the Nasdaq stock exchange at 1600 GMT, a leap of 117 percent from their opening price of $20. The strong debut bodes well for other Internet companies planning to start selling shares to the public, such as daily-deals site Groupon, which filed paperwork for an inital public offering (IPO) last month. \"Zillow is transforming the way people make home-related decisions and connect with real estate and mortgage professionals,\" Nasdaq senior vice president Bob McCooey said in a statement. Launched in 2006, Zillow is an online real-estate marketplace with a trove of data about estimated home prices, rental potential, tax records, sales histories and other information on millions of US properties. Based in Seattle, Washington, the company was co-founded by Richard Barton, creator of online travel service Expedia. Like many other Internet companies seeking to sell shares to the public this year, Zillow has yet to turn a profit. In its IPO filing with the US Securities and Exchange Commission, Zillow reported a net loss of $6.77 million last year and $865,000 in the three months ending on March 31 of this year. Zillow, which listed on the Nasdaq with the ticker symbol \"Z\", was planning a placement of 3.46 million shares of common stock, or as many as 3.98 million in case of strong demand from investors. At its IPO price of $20 per share, that means Zillow could expect to raise between $69 million and $80 million from its market debut.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

realestate website zillow surges in ipo realestate website zillow surges in ipo

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 08:32 2011 Monday ,25 July

Sabri accuses Yusri in Souad Hosni’s murder

GMT 12:07 2014 Monday ,03 February

Home design ideas

GMT 11:20 2017 Thursday ,02 March

Mexico central bank cuts growth outlook over Trump

GMT 08:31 2017 Tuesday ,28 November

Bangladesh upholds death sentence for 139 soldiers

GMT 14:33 2017 Thursday ,20 April

US defense secretary vows support for Egypt's Sisi

GMT 16:12 2017 Wednesday ,20 December

Myanmar bars UN rights investigator just before visit

GMT 08:21 2017 Wednesday ,30 August

United Technologies near deal to buy Rockwell Collins

GMT 18:27 2017 Friday ,21 April

ARCO condemns targeting of ERC convoy in Somalia
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle