Seeking Alpha

Zillow launches secondary; makes small purchase

  • The offering will consist of 2.5M shares of freshly minted stock along with more than 2.5M shares being offered by certain existing shareholders. The greenshoe option is for about 750K shares. The current float is 34.55M shares.
  • Zillow (Z) is also acquiring NYC real estate website StreetEasy for $50M in cash. The site attracts nearly 1.2M monthly home shopping users in the New York region. "Simply put, StreetEasy has cracked the code in New York," says Zillow CEO Spencer Rascoff, who has called New York City a "glaring hole" for his company.
  • Sources: Press releases - offering, purchase.
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