Zillow.com plans to trade on the Nasdaq stock exchange under the one letter ticker symbol Z when it expects to debut later this year. That’s slightly unusual, since most of the tickers on the exchange such as Microsoft (MSFT); Google (GOOG); Apple (AAPL) and even new entrants like LinkedIn (LNKD) are four letters.
In addition to the ticker symbol selection, an updated Securities and Exchange Commission filing today from the company includes financial figures for the first quarter.
And how is the online real estate company performing?
The company trimmed its net loss to just $826,00 during the quarter — down from $2.8 million for the same period last year. Meanwhile, revenue more than doubled to $11. 2 million. It finished the quarter with $15.5 million in cash and cash equivalents and 271 employees.
The 7-year-old company warned that its revenue growth rate will likely slow as the business matures, and that costs will increase “as we continue to expend substantial financial resources to develop and expand our business.” It also disclosed a $4 million line of credit that it established in March, with the capital to be used for “general business purposes.”
Zillow — founded by former Expedia executives Rich Barton and Lloyd Frink — filed to raise $51 million through an initial public offering in April. The IPO could be one of the first from a Washington technology company since Motricity went public last year.
Seattle-based Impinj, a maker of RFID technologies, also is waiting to go public.