Online real estate company Zillow on Wednesday filed new SEC documents that declare its IPO pricing between $12 and $14 a share, which gives the company a $378 million valuation. The company intends to raise up to $55.7 million in the IPO.
This is a hot year for tech startups going public, so Zillow likely wants to take advantage of the favorable financial climate. Both LinkedIn and Pandora went public in the past few months, while notable tech companies such as Zynga and Groupon have recently filed to go public.
Seattle-based Zillow launched in 2006 and now lists pricing related to more than 100 million homes in the U.S. The service also helps connect lenders, borrowers, and renters with its marketplace.
Zillow’s financials account for the the company’s somewhat small $378 million valuation for a tech startup. During the course of its three years, the company hasn’t made any profit. It incurred a loss of $12.8 million against $17.5 million in revenues in 2009 and a loss of $6.7 million against $30.5 million in revenues in 2010. In the first three months of 2011, the company lost $826,000, which at least indicates Zillow is on its way to generating income soon.
Have you used Zillow? Are you a fan of the service?