Trulia files for $75 million IPOAugust 17, 2012: 10:39 AM ET
Trulia Inc., the company behind real estate website Trulia.com, filed for an initial public offering that is expected to raise as much as $75 million, though the company did not specify how many shares it plans to sell or how they will be priced.
Earlier in the summer, Trulia filed for a so-called confidential IPO thanks to the Jumpstart Our Business Startups, or JOBS Act, which was signed into law in April.
The law allows "emerging growth companies" with less than $1 billion of annual revenue to file their documents to go public with the Securities and Exchange Commission for confidential review and keep them out of the public eye until 21 days before they plan to begin making their pitch to potential investors in what is known as a road show.
Trulia, which is based in San Francisco and provides information on homes for sale, neighborhoods and housing trends, raked in almost $29 million in sales for the six months of 2012, up 78% from the same period a year earlier. (CNNMoney has a content partnership with Trulia.)
The company plans to list on the NYSE under the symbol TRLA and has hired J.P. Morgan, Deutsche Bank, RBC Capital Markets, Needham & Co. and William Blair as underwriters for the deal.
Last year, fellow real estate website Zillow (Z) raised $69.2 million in its initial public offering, with shares priced at $20 a piece. The company's shares are now trading almost 80% above their IPO price.