After reverse split, Zillow sets IPO price range at $12 to 14 per share

Zillow continues to inch toward the public markets, disclosing in a SEC filing today that it plans to sell 3.4 million shares in the range of $12 to $14 per share. If the Seattle online real estate company prices at $13, it would generate $44.1 million through the public offering.

Zillow, which filed to go public in April and plans to trade under the ticker symbol “Z,” lost $826,000 on revenue of $11 million during the first quarter. The most recent SEC filing did not include results for the second quarter.

As we previously noted, Zillow’s traffic continues to grow. It recorded 22 million unique visitors to its Web and mobile properties during the month of May, year-over-year growth of 102 percent.

The $12 to $14 per share price range is a typical starting point for technology companies. In order to get there, Zillow instituted a 3.38-to-1 reverse stock split in June, something that corporate securities attorneys say is common.

At the time of the offering, Technology Crossover Ventures and PAR Investment Partners have agreed to purchase $5.5 million worth of Zillow’s shares at the IPO price.

Zillow is one of two Seattle area tech companies currently waiting to go public. Impinj, a maker of RFID technologies, also hopes to price shares later this year.

  • Meh

    This values Zillow at nearly $400 million?

    Based on revenue last year of 30 million?

    Huh?

  • Meh

    This values Zillow at nearly $400 million?

    Based on revenue last year of 30 million?

    Huh?

  • http://twitter.com/WikiOrgCharts WikiOrgCharts

    Here’s an org chart of Zillow. You can see who is running the company and will become super rich as a result of the IPO. http://bit.ly/zilloworgchart

  • http://twitter.com/WikiOrgCharts WikiOrgCharts

    Here’s an org chart of Zillow. You can see who is running the company and will become super rich as a result of the IPO. http://bit.ly/zilloworgchart

  • Chris

    How long until the IPO could hit the market?

    • johnhcook

      I’d guess some time in the next 60 days, but it depends on a lot of factors of course.