Following on the heels of a similar move by competitor Zillow, real estate search and information portal Trulia will take advantage of its share price to raise $100 million in a follow-on offering.Shares in Trulia, which have ranged from $14.69 to $38.22 since the company went public on Sept. 20, closed at $28 Monday. Shares were off by 5 percent in after-hours trading on fears that the offering will dilute the value of existing shares.Although Trulia posted nearly $11 million in net losses last year, the company trimmed its net loss for the fourth quarter to $1.6 million, down 22 percent from the same time a year ago.Trulia, which raised $89.4 million after expenses in its IPO, said in a filing with securities regulators that company management will have "broad discretion" in how to spend proceeds from the follow-on offering. The company expects to use "some or all of such net proceeds to acquire or invest in complementary businesses, products, services, technologies, o...
by Bernice Ross | Aug 14
by Teke Wiggin | Today 6:01 A.M.
by Amber Taufen | Aug 18
by Teke Wiggin | Aug 16
by Amber Taufen | Aug 21