NEW YORK (AP) — Real estate listing and information service Zillow says it now hopes to raise up to $71.6 million through an initial public offering, up from its original expectation of as much as $51.8 million.
Zillow Inc. expects to offer about 3.5 million shares at between $16 and $18 apiece. It’s giving underwriters the option to buy up to an additional 519,300 shares to cover any over-allotments.
The Seattle company expects to trade on the Nasdaq Global Market under the symbol “Z.”
Zillow was founded in 2004 and launched its website in 2006. It has since also rolled out applications for accessing its content through mobile devices.
Zillow said it lost $6.8 million in 2010, although revenue jumped 74 percent to $30.5 million from 2009.
