Housing
Online Real Estate Firms Jockey for Position (TRLA, Z, MOVE)
Published:
Last Updated:
Trulia expects net proceeds of about $100.3 million, or up to $115.4 million if the underwriters exercise their purchase option. The company plans to use the proceeds for working capital and general corporate purposes, and expects to use “some or all of such net proceeds to acquire or invest in complementary businesses, products, services, technologies, or other assets.”
The competition in the online real estate sector is fierce, with Trulia, Zillow Inc. (NASDAQ: Z) and Move Inc. (NASDAQ: MOVE), which operates the Realtor.com site, all competing for eyeballs. Move announced a redesign of the Realtor.com website this morning and is promoting the speedy updates to its listings that are available through its smartphone apps. Zillow, too, has beefed up its mobile apps, and this is the likeliest target for Trulia’s hoped-for new cash.
Shares of Trulia are down about 1.3% this morning, at $30.06 in a 52-week range of $14.69 to $38.22.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.