Industry News

Redfin founder departs for ‘new opportunities’

Company offers money-back guarantee for online-offer program

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

David Eraker, the founder of high-tech real estate brokerage company Redfin Corp., has left "to pursue new opportunities," according to a company announcement this week. Eraker, who started Redfin as a software company for the real estate brokerage industry, grew his venture into a real estate brokerage that offers online mapping and a data-intensive site for property searches. "This was a company run out of apartments, by people working without pay, often against long odds," Eraker said in a statement. "With that kind of heart, we've been able to come a long way from where we began, and can go much further still." Glenn Kelman, CEO for Redfin, said in a statement, "It's a rare entrepreneur who has the vision and energy to re-imagine one of the largest, most traditional industries in America. We all owe a great debt to David and wish him well." The company this year expanded to the San Francisco Bay Area market and added a feature that allows consumers to make online offers to purcha...