Industry NewsTechnology

Trulia staff to cash in shares?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Real estate search site is considering a search for an outside investor that would buy shares from its employees and owners without the company going public, Bloomberg has reported. The company may explore an investment deal similar to that of Facebook's with Russian investment firm Digital Sky Technologies (DST) last year, Trulia CEO and co-founder Pete Flint reportedly told the business news organization in an interview. DST invested $200 million in Facebook in exchange for preferred stock -- a 1.96 percent equity stake at a valuation of about $10 billion -- and agreed to buy $100 million of common stock from the company's current and former employees. Flint declined to give a timetable for such a transaction. "We get inquiries frequently, if not weekly, from people who want to take us public or invest in our business," but the company would prefer to wait, since a valuation of the company would likely be higher after the real estate market recovers, Flint t...