Zillow files for $52 million IPO

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney) -- Real estate site Zillow.com filed for a $51.75 million initial public offering Monday.

The Seattle-based company didn't say in its Form S-1 filing how many shares it planned to sell, nor how it would price each share. However, it did say that Technology Crossover Ventures and PAR Investment Partners agreed to buy a total of $5.5 million of common stock directly from Zillow.

Zillow, founded in 2004, provides a database of more than 100 million U.S. homes for sale or rent, as well as homes not currently on the market.

In March, the site and mobile app together attracted 19.4 million unique users -- a year-over-year gain of more than 90%.

Zillow's revenue has grown significantly over the past three years, according to the Securities and Exchange Commission filing. In 2010, Zillow's revenue jumped 74% to $30.5 million.

But the company has also booked net losses during that time, though those losses have been steadily narrowing. Zillow only lost $6.8 million last year, compared with $12.9 million in 2009 and $21.1 million in 2008.

Zillow's IPO filing comes as the public offering market is starting to heat up. LinkedIn filed for an IPO in January and Demand Media went public the same month, while Pandora filed in February.

On Friday, Chinese social networking site Renren also filed for an IPO on the U.S. market. To top of page

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