AgentTechnology

Inside Redfin’s IPO: ‘We learned to fight like wild animals’

Bundling brokerage, mortgage and title services and acquiring listings are key to brokerage’s growth strategy
  • The focus of the company's IPO statement is on happy customers first, big profits later on.

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

As Redfin gears up for an initial public offering, the high-tech brokerage has released a video presentation designed to coax investors into pouring more than $100 million into the company at a valuation of over $1 billion. The focus of the company's IPO statement is on happy customers first, big profits later on -- a feel-good IPO. The video, to be shown to investors in Redfin's IPO "road show," offers insight into the company’s long-term vision, while flagging some of its key initiatives and technology. Here are seven takeaways from the presentation. 1. Redfin was 'born in the darkness'  Setting expectations for investors, presenters painted Redfin as a scrappy firm that will put customer satisfaction and long-term growth above short-term gain.  Redfin has learned to “fight like wild animals” and is willing to make “who-cares-what-they-think business decisions,” CEO Glenn Kelman says in the 23-minute video.  Because the firm cut its teeth during the h...