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Trulia Files For $75 Million IPO With 22 Million Monthly Users
The rumors have been officially confirmed—Trulia is going public. From as far back as July there was speculation that the online real estate listings giant was keen on making an IPO, but those rumors were fiercely quashed.
Now thanks to an official S-1 filing with the SEC, speculators can take pride in the fact that they were right. The company’s updated S-1 filing gives some clarity and insight into the state of things at Trulia.
As at June 30, 2012, Trulia is getting 22 million monthly unique visitors—more than four times the number of monthly uniques received 3 years ago. Revenues are also looking solid with six-monthly revenues topping $29 million. That’s the good news; the bad news is that net losses aren’t going down. According to the filing, net loss for 2012 was $7.6 million—a $1.4 million increase from a year ago.
It will be interesting to see how investors look at Trulia stock come purchase day. Real estate is of coursed tied to the economy and with some forecasts suggesting things may not pick up for another 2 years, investors may be a lot more cautious about forking out.
Trulia’s IPO will be handled by Deutsche Bank and JP Morgan so that might add the comfort blanking the IPO needs in these testy economic times. Perhaps not surprisingly, Trulia’s $32.8 million in VC funding was spearheaded by Sequoia Capital and Accel Partners.