More money for online real estate: Redfin raises another $10 million
Real estate site Redfin announced today that it has raised $10 million more in a fourth round of funding.
The round was led by Greylock Partners, meaning that the firm (which just raised a new fund) is the latest high-profile venture capital firm to enter the online real estate market. Real estate search engine Zillow’s venture backers including Benchmark Capital, while Sequoia Capital invested in Trulia. Unlike those companies, Redfin describes itself as an “online real… Continue Reading
Redfin employees see pink in 20 percent layoff
Online real estate service Redfin Corp. slashed its staff by 20 percent yesterday in order to stay afloat during the economic downturn — despite strong revenue and $21 million in VC backing from Draper Fisher Jurvetson, Madrona Venture Group, Vulcan Capital, BEV Capital and the Hillman Co.
The Seattle-based firm, which helps buyers find homes for sale and broker deals, was hit hard by the credit crunch in recent weeks. In addition to a 30 percent… Continue Reading
Zillow gets $30M more for online real estate — despite credit crunch
Zillow, the controversial website that gives value estimates of people’s homes and other real estate info, has raised a significant $30 million of funding, despite the mortgage industry credit crunch.
The Seattle company has now raised a hefty $87 million in total funding during its short lifetime, making it one of the most richly backed of the new era of “Web 2.0″ Internet companies.
The round was led by Legg Mason Capital Management. Previous backers Benchmark Capital,… Continue Reading
Redfin cuts out real estate agents, raises another $12M
[Note: This story was originally published Tuesday evening, but a software bug caused it to disappear. We're publishing again]
Updated
Redfin is one of the more controversial web companies trying to make home buying and selling more profitable. Specifically, it’s cutting out real estate agents.
Eager to do more cutting, it has raised another $12 million, led by venture firm Draper Fisher Jurvetson. It is expanding its listings from most West Coast cities and Boston, now adding the… Continue Reading