• It's far from clear whether the company can develop into anything more than a niche player.

Over more than a decade, Redfin has fought tooth and nail for a small fraction of market share — without turning a profit. Some analysts think the high-tech brokerage can quickly grow into a multibillion dollar company after its IPO, scheduled for July 28. But it’s far from clear whether the company can develop into anything more than a niche player.

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