Zillow Stock Price Increases 79% In First Day

Real estate search engine Zillow.com went public on the stock market yesterday and their stock price increased 79% in the first day. Zillow trades on the Nasdaq stock market under the symbol “Z.” The stock price climbed 79% to $35.77 as of 4PM EST yesterday. Zillow raised $69.2 million after selling 3.46 million shares at $20 per share. Zillow lets home buyers and sellers list and search for properties. For the quarter ended March 31st, Zillow’s revenue grew more than double to $11.3 million. Based on the IPO price, Zillow’s market cap was roughly $540 million. [SF Gate]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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