Redfin is Going Public; Acknowledges "Flipping" Subsidiary

Posted To: MND NewsWire

Redfin, the Seattle-based real estate brokerage (among other things) company is expected to soon take its place on the Nasdaq. The company filed a long awaited initial public offering (IPO) last week with a debut expected late this month or in early August. Redfin says it hopes to raise $100 million, a figure that Katie Roof, writing in TechCrunch, said was a placeholder, subject to change. The company was founded in 2002 under the name Appliance Computing, changing its name four years later. Since then has raised at least $167 million in venture capital. It had been expected to file an IPO in 2014, but that was apparently sidelined after two former employees filed a lawsuit claiming the company was trying to wipe out their stock. Redfin, which bills itself as an on-line real estate brokerage...(read more)

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