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Sign into your accountZillow’s IPO: Reflections on Day 1
July 21 2011
Zillow's IPO (initial public offering) has been big news. Under the ticker symbol "Z," the stock began trading on the Nasdaq exchange on Wednesday morning. The pre-opening share price was $20, yet when it hit the market, the shares quickly soared to $60. By the end of the day, however, those sky-high values had plummeted back down to $35.77. What does this roller coaster mean for investors? What is the future of Zillow stock?
One thing is for sure: Zillow has crossed the chasm. They took a brilliant idea (offering consumers price opinions on their property value), coupled it to every property in America, and mixed in 90% of the active listings. The result was a sensation. They have had great success monetizing the site's traffic (Yahoo!/Zillow combined traffic of just under 50 million a month) with advertising, as well as a plethora of unique agent and broker marketing services.
Given the level of funding in the bank, Zillow should be able to shore up retention of key employees and continue to invest in their next stage of product development.