Redfin, a Seattle-based real estate Web site that combines mapping technology with detailed property information, has announced plans to expand into markets in California and the East Coast.
Redfin also announced the hire of new executives. Glenn Kelman, who formerly co-founded a software company, will serve as CEO, and Brian Marsh, a former senior manager for Amazon.com‘s community group, will serve as chief technology officer. Redfin founder David Eraker will continue to lead business development and product strategy initiatives at the company, Redfin officials announced today. Additionally, the company has received an injection of investor money from Madrona Venture Group and Madrona’s Paul Goodrich will serve as chairman for Redfin’s board of directors.
Kelman said that Redfin will expand to the San Francisco Bay Area, Los Angeles and San Diego markets in California this year, along with two East Coast markets. The company has plans to launch new e-commerce services later this month, though Kelman said he could not yet provide details about those new service offerings.
“We’ve doubled our (Web) traffic over the course of 2005 and now with the funding we think we’re going to be able to build an even better consumer experience and expand it,” Kelman said.
Eraker said in a statement, “The entire Redfin team is delighted that the company has entered a new phase of growth. With new capital, we can build on our technical and real estate expertise, and give our customers new ways to shop smart.”
And Marsh said, “Redfin got to be the pioneer in online real estate by offering consumers information and services that empower them to make their own decisions and save money, all packaged in a user experience that in a hundred little ways is a delight to use. My job is to make that experience even better, to bring it to more people and to give them new ways to buy what they see on our site.”
In addition to information on for-sale properties, Redfin also offers information on past sales. Redfin users can locate a listing on an aerial map, and see in one place the listing information used to market the property as well as data from tax records and other sources. Redfin’s business methods and search technology are patent-pending.
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