The online real estate battle between San Francisco’s Trulia and Seattle’s Zillow is about to get a lot more interesting.
Trulia today priced its initial public offering at $17 per share, above the anticipated range of $14 to $16 per share, according to PrivCo. The deal will raise about $102 million for Trulia, with a valuation in the range of $448 million.
Trulia plans to begin trading on the New York Stock Exchange tomorrow under the ticker TRLA.
Last week, Zillow sued Trulia for patent infringement, alleging that its rival infringed on a patent related to its automated home valuation tool, the Zestimate.
Zillow went public in July 2011 at $20 per share, and its stock has performed well on Wall Street. Shares of the company soared again today, up more than six percent, closing at $45.55. It now has a market value of $1.3 billion.
Earlier this month, Zillow — which is profitable and growing — raised $147 million in a secondary offering. Trulia has yet to turn a profit.
