Have a question? We are here to help. | TF: +1.888.242.4422 | Cell: +1.954.817.2500 | Email Us
June 28, 2018
The Seattle-based listings giant, Zillow released their regulatory filing statement on Wednesday. In it, the company stated they are looking to raise $650 million via concurrent offerings - $325 million in stock and $325 million in convertible bonds. A Zillow spokesperson said the funds would not fund their Instant Offers program, a home-flipping business that launched earlier this spring. Zillow says it will use the proceeds to pay for general corporate expenses and to expand its business through “acquisitions of, or investments in, other businesses, products or technologies.”
If the underwriters exercise their options to purchase an additional $48.75 million for each offering, the total raise could top $750 million. In February, Zillow posted a record $1.077 billion in revenue for 2017. Revenue from Premier Agent, its agent-advertising program, jumped 26 percent to $761.6 million, representing 70 percent of Zillow’s annual earnings.
Source: Real Deal Miami
Share this post
All information displayed on this website is subject to errors, omissions, prior sale or withdrawal without notice.
All text, images, graphics, and other materials on this website are subject to copyright and other intellectual property rights of Seaside Properties Group at Douglas Elliman unless otherwise stated. These materials may not be reproduced, distributed of reposted to print or other websites without the express written permission of Seaside Properties Group at Douglas Elliman
DOUGLAS ELLIMAN, LICENSED REAL ESTATE BROKER
All contents © Copyright 2018 Seaside Properties Group at Douglas Elliman. All rights reserved in All Countries.