Real-estate listing sit Trulia is expected to hit the public
markets this week. According to
, the IPO could price tonight and begin trading as early as
Thursday. The company is offering six million shares at between $14
and $16 each. Based on the midpoint of this range, Trulia would
raise $65.8 million at a valuation of $461 million. The stock is
expected to be listed on the New York Stock Exchange under the
Two competitors already are publicly traded, Zillow (NYSE:
) and Realtor.com, which trades under corporate name Move Inc.
). Zillow went public at $20.00 per share and the stock has risen
to $44.60 on Wednesday. MOVE is up better than 38 percent in
In a note to investors, Morningstar analyst James Krapfel said
that he believes Zillow is the best bet in the space, but that
Trulia should grow as more consumers and agents use the services.
We believe Trulia has a growing network effect that could keep
upstart online competitors at bay, but believe Zillow's larger
network effect will allow Zillow to maintain its position as the
primary home search marketplace,"
According to allthingsd.com, Zillow sued Trulia just last week,
saying that the company's Trulia Estimates feature infringes on
Zillow's patent-related to property value estimates. The company is
seeking a permanent injunction against Trulia, damages and
In 2011, Trulia nearly doubled its previous year loss of $3.8
million to $6.2 million. Revenues doubled during that time to $38.5
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