Zillow Seeks $52M in IPO

Real estate and housing data company Zillow Inc filed with U.S. securities regulators for an initial public offering of up to $51.8 million on Monday.

Seattle-based Zillow offers rent and house price estimates as well as real estate data on millions of U.S. homes through its websites and mobile phone applications.

It largely depends on subscriptions from local real estate professionals for revenue, Zillow said in its filing with the U.S. Securities and Exchange Commission.

Ellie Mae, which provides software and services for loan origination, last week raised $45 million in its IPO. Bankrate Inc, a publisher of personal finance Web content, filed with U.S. regulators for an IPO of up to $500 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO may be different.

Zillow plans to use IPO proceeds for general purposes, possibly including acquisitions.

Zillow's revenue grew 74 percent to $30.5 million in 2010 while its net loss fell 47 percent to $6.8 million, or 16 cents per share, according to the filing.

Investors including funds affiliated with Technology Crossover Ventures also plan to buy $5.5 million in Zillow Class A common shares in a private placement at an IPO price.Citigroup is leading the underwriters on the IPO.

Zillow has not picked a symbol or a stock exchange to list its shares. It provided no further details about the IPO.