Zillow Inc. files for IPO, eyes raising $51.8 million

By Alex Veiga

AP Real Estate Writer

LOS ANGELES (AP) -- Real estate listing and information service Zillow Inc. has filed documents with securities regulators for an initial public offering.

The paperwork filed Monday indicates Zillow will seek to raise around $51.8 million and plans to use the funds for general corporate purposes, including a possible acquisition.

Zillow did not immediately set a target price for the shares, nor did it say when the offering will take place.

Zillow.com launched in 2006. It has data on more than 100 million U.S. homes and provides information on homes for sale and rent, among other housing information.

The company, based in Seattle, remains unprofitable. It lost $6.8 million on revenue of $30.5 million in 2010.

Analysts say Zillow's IPO has been widely anticipated, but a still-weak housing recovery makes for potentially bad timing.

Published: Wed, Apr 20, 2011


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