Trulia is one of the big real estate search engines that has seen rapid growth in traffic over the past several years. They, along with Zillow and Realtor.com to some degree, are seen as third party aggregators in real estate search. I’m a fan of Trulia and believe they have been very innovative in pushing the technology as well as usability of real estate search across the country.
Today Trulia filed for an IPO to raise $75 million. The ticker will be TRLA. No news yet as to what the overall valuation of the company is when they raise $75 million. JP Morgan Chase and Deutsche Bank are the lead underwriters. Accel Partners and Sequoia Capital are the private equity firms involved in originally funding the company.
According to the Associated Press story running on Yahoo! Finance:
Trulia, which operates both a traditional website and mobile apps, allows people to research home listings and neighborhoods, while helping real estate agents market their listings. In the six months ended June 30, the site had 22 million unique visitors. And as of the same date, it had more than 360,000 active real estate professionals, with 21,544 of those paying subscribers.
The company’s searchable database includes more than 110 million properties, including 4.5 million homes for sale and rent. Listings are supplemented with local information on schools, crime and neighborhood amenities.
It will be interesting to see the reception to Trulia’s IPO. Zillow, it’s biggest competitor, had a successful IPO a year ago and Zillow now has a valuation of over $1 billion.