Redfin (RDFN) IPO Opens Up 30%

Today's IPO for Redfin Corporation (NASDAQ: RDFN) opened for trading at $19.56 after pricing its initial public offering of 9,231,000 shares of its common stock at a price of $15.00 per share.

Goldman Sachs & Co. LLC and Allen & Company LLC are acting as lead book-running managers for the offering. BofA Merrill Lynch and RBC Capital Markets are also acting as book-running managers for the offering, and Oppenheimer & Co. and Stifel are acting as co-managers.‎

Redfin is a technology-powered, residential real estate brokerage. They represent people buying and selling homes in over 80 markets throughout the United States. The company's mission is to redefine real estate in the consumer’s favor. In a commission-driven industry, they put the customer first. They do this by pairing their own agents with their own technology to create a service that is faster, better, and costs less. Since its launch in 2006, the company has helped customers buy or sell more than 75,000 homes worth more than $40 billion. The company generated revenue of $267 million in 2016.

On the web: www.redfin.com

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