A long awaited announcement
We’ve been waiting for this announcement for quite some time Zillow started talking about seeking IPO status over a year ago. We had heard from our sources internally that Zillow was close to filing for their IPO and today they have finally officially announced they have filed with the SEC for IPO status.
The down side is that while they wait for approval, they are on what amounts to a gag order per SEC rules, so what you’ll hear over the coming waiting period will be a lot of speculation about this move.
The full press release:
Zillow Files Registration Statement for Proposed Initial Public Offering
Seattle, WA, April 18, 2011 – Zillow, Inc., which operates real estate site Zillow.com®, Zillow Mortgage Marketplace, and Zillow Mobile, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined.
Citi will act as the sole book-running manager for the offering. Allen & Company, Needham & Company, LLC, ThinkEquity LLC and First Washington Corporation will act as co-managers. A copy of the preliminary prospectus, when available, can be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220, or by calling 800-831-9146.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Editor’s note: Comments to this blog post represent the views of the authors only, and do not represent the views of Zillow, Inc. Zillow, Inc. will not review the comments to this blog post for accuracy or otherwise approve of or edit comments.
We will make updates here to the story as we learn more, so refresh this page from time to time for new details.
Lucas Lechuga
April 18, 2011 at 6:43 pm
It'll be interesting to learn what kind of plans they have for the capital that will be raised through the IPO.