OpinionIndustry News

Zip and the IPO markets

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Investors who have one eye on real estate and the other eye on technology will be pondering how Wall Street responds to ZipRealty's planned initial public offering, which is of particular interest in the wake of Google's somewhat muddled IPO this week. Google on Wednesday slashed its IPO in half and plans to sell 14.1 million shares priced at $85 to $95. The company and its investors originally planned to sell 25.7 million shares priced at $108 to $135. In its first few hours of trading today, the stock is up 18 percent to $102.95 a share. Zip's IPO shares haven't been priced yet, but the online real estate brokerage company expects to raise as much as $69 million, according to the preliminary prospectus it filed July 12 with the Securities and Exchange Commission. Google's IPO take will dwarf Zip's, but perhaps the difference is only a matter of zeros. Google's IPO is an important indicator for Zip and other dot-com real estate companies because it will hint at investors' appetites ...