Shares in top online real estate companies valued at $6B-plus

Realogy IPO could add another $3.5B to total

With Trulia Inc.’s recent successful initial public offering, there are now seven publicly traded online real estate companies, with an aggregate market capitalization of nearly $7 billion (based on closing prices Monday, Oct. 1) and $491 million cash on hand as of June 30.

Commercial real estate information company CoStar Group Inc. tops the list, followed by vacation rental website operator HomeAway Inc.

The big three residential real estate portal operators are next — Zillow Inc., Trulia Inc., and Realtor.com operator Move Inc. — with Zillow enjoying a market cap that’s more than three times Move’s.

Shares in Market Leader Inc., the owner of Internet data exchange (IDX) listing portal RealEstate.com, are valued at more than three times those of brokerage and referral site operator ZipRealty Inc.

The family of publicly traded online real estate companies is expected to grow soon, with franchising giant Realogy Holdings Corp. planning to offer 40 million shares of common stock to the public in an upcoming IPO.

Realogy expects to raise up to $1.24 billion in the IPO before expenses, which would put the company’s market cap at about $3.5 billion.

Company

Market cap^

Cash on hand^^

CoStar Group Inc.

$2.32B

$104.2M

HomeAway Inc.

$1.96B

$221.2M

Zillow Inc.

$1.2B

$69.6M

Trulia Inc.

$553M

$10.36M

Move Inc.

$336.5M

$45.2M

Market Leader Inc.

$171.5M

$21.2M

ZipRealty Inc.

$56.5M

$19M

Total
$6.6B
$491M

^Based on closing prices Monday, Oct. 1. ^^As of June 30, 2012, as disclosed in regulatory filings. Trulia raised $89.3 million after expenses in an IPO that closed Sept. 25. Zillow raised $156.7 million in a secondary offering that closed Sept. 24. Source: Yahoo Finance and Securities and Exchange Commission filings.

 

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