It is certainly no secret that Trulia wants to become a publicly-traded company. But the San Francisco real estate company got beat to the punch earlier this year when rival Zillow entered the public markets with a skyrocketing IPO.
Trulia still has dreams of an IPO, with PEHub.com reporting that the company is done raising venture capital and is now looking for investment bankers to take it public.
Zillow certainly has paved a nice path in that arena. The company priced its IPO at $20 per share — above the initial range — and the stock is now trading at about $30 per share. That gives Zillow a market value of more than $800 million.
As I’ve noted in the past, the rivalry between Trulia and Zillow is pretty intense. Earlier this year, Trulia CEO Pete Flint told GeekWire that it is “really just a question of time before we overtake (Zillow).”
Zillow has continued to add visitors at a rapid clip, topping 25 million unique visitors per month to its site and mobile applications. It also just today signed a real estate search deal with the popular online real estate blog Curbed.
Trulia earlier this month announced that it was going to follow Zillow’s lead in yet another way, rolling out a new home valuation tool which is similar to Zillow’s Zestimate.
Trulia is backed with about $33 million from Accell, Sequoia Capital and others.