Redfin Profitable

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Says CEO Glenn Kelman, via Techcrunch

…the run rate is around $15 million. 2007 revenues were $5 million, 2006 revenues were $1 million.

Congrats to all the folks at Redfin. Their model, while clearly controversial, seems to be succeeding.

Their web site is world class (see 10 Kick Ass Real Estate Search Sites) and the company has pushed a number of novel consumer-focused ideas lately; including introducing ratings for all of its agents.

Now the road to profitability has been rocky (see Redfin Downsizes To Keep Swimming) but this is definitely good news for the Seattle-based brokerage.

Hopefully we continue to hear much more from them in the future.

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