Editor’s note: This story has been corrected to note that an offering of Zillow shares that closed Sept. 24 was a follow-on offering dilutive to existing shareholders, not a secondary offering of previously issued shares.

Shares in real estate search website Trulia Inc. could begin trading on the New York Stock Exchange as soon as Thursday morning if shares in the company are priced tomorrow evening, as expected.

A Trulia spokesman declined to comment on reports on Forbes and AllThingsD.com that Trulia’s initial public offering will take place this week.

In a Sept. 6 regulatory filing, Trulia said it expected to offer 5 million shares priced at $14 to $16 per share. If underwriters exercise an option to purchase 900,000 additional shares, net proceeds from the IPO would total $78.3 million after expenses, the company said.

Zillow raised $75.7 million in an IPO last year, and plans to raise additional capital through a follow-on offering of more than 3 million shares.

In June, Trulia jumped to No. 2 behind Zillow on a list of most visited real estate-related websites compiled by the Web metrics firm Experian Hitwise. Last week, Zillow sued Trulia, claiming the company had infringed on a patent related to its property valuation tool.

If Trulia’s IPO goes as planned, the rivals will be well-positioned to make acquisitions or launch other growth initiatives.

Real estate technology consultant Brian Boero of 1000Watt Consulting has estimated that when the dust settles, Trulia will have a cash balance of roughly $85 million, Zillow will have $190 million, and Realtor.com operator Move Inc. $25 million.

Move, which is also publicly traded, got into the listing syndication business in 2010 by purchasing ListHub parent company Threewide Corp. for $13.1 million, and last year bought the social media search platform SocialBios. This month Move announced its acquisition of real estate lead generation and management company TigerLead Solutions LLC for $22 million.

In November, Zillow acquired Diverse Solutions, which powers listing searches for agent websites, for $7.8 million. This week the company said it plans to launch a national TV advertising campaign.

Trulia in December 2010 acquired Movity, a startup that helps homebuyers and renters research neighborhoods they might want to live in. The company has disclosed that it may use a portion of the net proceeds from the IPO "to acquire or invest in complementary businesses, products, services, technologies or other assets."

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription