Redfin Sets IPO Terms For Up To $1.1 Billion Valuation

Real estate brokerage Redfin Corporation set a price range of $12 to $14 a share Monday to raise up to $129 million in its initial public offering. Redfin has an online-offline model in which it lists homes online and also employs real estate agents to bring the customers to the properties. At the high end of its price range, the company would have a public market capitalization of $1.1 billion. The company applied to list its stock on the Nasdaq Global Select Market under the symbol "RDFN." Goldman Sachs & Co. LLC and Allen & Company LLC are the lead underwriters on the offering.