Trulia reportedly moving forward with IPO

Reuters: Real estate portal makes confidential filing under JOBS Act

Online real estate search portal Trulia has reportedly filed with the U.S. Securities and Exchange Commission for permission to follow in the footsteps of rival Zillow and make an initial public offering of shares in the company.

Reuters, citing anonymous sources, reported that Trulia was attempting to keep its plans for an IPO under wraps under the provisions of a new law that allows emerging companies with less than $1 billion in revenue to file confidentially. That’s an attractive option for some companies, Reuters said, because the filing can be withdrawn without publicizing it if regulatory issues come up.

If a company that has made a confidential filing decides to move forward with an IPO, the U.S. Jumpstart Our Business Startups (JOBS) Act requires that they make an S-1 registration statement public at least 21 days before they make a marketing push.