Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Business News

Trulia hires JPMorgan Chase, Deutsche bank to oversee IPO

After a long awaited buildup, Trulia is finally showing signs of going public by hiring JPMorgan Chase and Deutsche bank to manage their IPO, and working with a well known Silicon Valley IPO advisory firm.

Trulia inches toward going public

For months, speculation surrounding real estate media company, Trulia’s potential filing for initial public offering (IPO) has swirled, and now the company has hired JPMorgan Chase and Deutsche Bank to manage their IPO, according to Businessweek who points to “two people with knowledge of the matter” as their source.

It became clear that Trulia was inching closer to going public when the company hired high caliber senior management in December 2011, Sean Aggarwal as the new Chief Financial Officer, and Scott Darling as General Counsel, both of whom have experience in scaling companies, signaling preparations for going public. “As Silicon Valley veterans who’ve played crucial roles in other fast-growing tech companies, Sean and Scott will immediately play a crucial role in helping Trulia navigate an exciting, new path at rapid speed,” Trulia’s Head of Communications, Ken Shuman told AGBeat.

Timing and the “quiet period”

At the current pace, it is foreseeable that Trulia could go public later this year, and Businessweek reports it will be valued at less than $1 billion, adding that the real estate media company is also working with IPO advisory firm, Class V Group’s Lise Buyer. Trulia sees over 20 million visitors per month, both Realtors and consumers, and has made great strides in their mobile technology offering in the past year.

Trulia is the last of the big three real estate search companies (Realtor.com, Zillow) to become publicly traded, and they have long portrayed themselves as an underdog, a position they may continue to assert despite going public.

Advertisement. Scroll to continue reading.

Although it will become clear with any U.S. Securities and Exchange Commission (SEC) filing, Trulia’s revenue and profit are unknown. When the company files for IPO as it is currently preparing to do, they will enter what is known as the “quiet period” wherein they may not make any moves or announcements that would alter the price of their stock until the process is completed through the SEC.

Trulia spokesperson, Ken Shuman had no comment on the matter.

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

19 Comments

19 Comments

  1. Wisconsin payday loan

    August 30, 2012 at 1:05 am

    Banks are susceptible to many forms of risk which have triggered occasional systemic crises.

  2. Colorado payday loan

    August 31, 2012 at 6:30 pm

    Critics such as the Consumers Union blame payday lenders for exploiting people’s financial hardship for profit. They say lenders target the young and the poor, particularly those near military bases and in low-income communities.

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Business News

(NEWS) Rivian Automotive, the highly anticipated EV manufacturer backed by big wigs like Amazon and Ford, opened the flood gates for their IPO.

Business Finance

(FINANCE) Spotify directly filed to join the stock market late December, forgoing the traditional IPO process. Will other tech companies follow suit?

Opinion Editorials

(EDITORIAL) Reddit is known as a firebrand, a bastion of free speech, but if they go public, will they be able to remain as...

Social Media

(SOCIAL MEDIA) As Snap Inc.'s stock falls to IPO prices, should other tech companies be using this as a litmus test?

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.