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Redfin and Zillow are close neighbors in Seattle, but they’ve not always gotten along.

The two companies have vastly different cultures, management teams and business models, though both share a similar mission of wanting to transform the age-old real estate business. And now they hold something else in common: They are both publicly traded on Nasdaq.

The fact that Redfin and Zillow grew up in Seattle is more of a coincidence, but it’s been fascinating to watch them emerge as powerful forces in real estate.

Ironically, as Redfin now begins trading on Wall Street — shares priced last night at $15 per share and opened on Nasdaq Friday morning at $19.56 — it will look to draw deeper comparisons to companies like Zillow, in order to command a higher valuation. That appears to have occurred in early trading, with Redfin commanding a $1.2 billion valuation after pricing shares above the anticipated range.

Here’s a look at Redfin and Zillow at the time of their IPOs. Which real estate company would you want to own shares of?


Redfin rings the Nasdaq opening bell. (Photo Via Nasdaq Livestream)

Founded: 2002

IPO date: July 27, 2017

Shares offered: 9,231,000

Offering price: $15

Opening price: $19.56

First day closing price: TBD

Valuation: $1.2 billion (At time of pricing IPO)

Cash raised in IPO: $138 million

Employees at time of IPO filing: 2,193

Monthly unique visitors at time of IPO: 20 million

Q1 2017 revenue: $59.8 million

Q1 2017 net loss: $28 million

First paragraph from S-1 IPO filing: Redfin is a technology-powered residential real estate brokerage. We represent people buying and selling homes in over 80 markets throughout the United States. Our mission is to redefine real estate in the consumer’s favor.


Spencer Rascoff and team Zillow ringing the opening bell on Nasdaq in July 2011.

Founded: 2004

IPO date: July 19, 2011

Shares offered: 3,462,000

Offering price: $20 per share

Opening price: $60 per share

First day closing price: $35.77, up 79 percent

Valuation: $962 million (at close following IPO)

Cash raised in IPO: $69 million

Employees at time of IPO filing: 275

Monthly unique visitors at time of IPO: 22 million

Q1 2011 revenue: $11.2 million

Q1 2011 net loss: $826,000

First paragraph from S-1 IPO filing: Zillow is the leading real estate information marketplace. We provide vital information about homes, real estate listings and mortgages through our website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. We are transforming the way people make home-related decisions. Zillow provides consumers and real estate professionals an “edge in real estate.”

Here’s a comparison of the two companies’ financials as compiled by Seattle Bubble:

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