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Redfin Shares Surge during IPO Debut on Nasdaq .

Redfin visited Nasdaq MarketSite to celebrate their Initial Public Offering (IPO) and success as a technology-powered, residential real estate brokerage.

Redfin Shares Surge during IPO Debut on Nasdaq

On July 28, Seattle based technology-powered, residential real estate brokerage Redfin began trading on Nasdaq under the symbol RDFN. The initial offering priced 9.2 million shares at $15 apiece, but at the close of their first day of trading, Redfin stock increased 43.6 percent from the IPO price, and the brokerage ended the day with a market cap of $1.7B.

Redfin IPO

Redfin combines its own full-service agents with modern technology to redefine real estate in the consumer’s favor. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $40 billion in home sales.

Commenting on the company’s IPO day success, Redfin CEO Glenn Kelman said in a GeekWire interview:

“It’s a big day for Redfin. But it’s not just about going public, it’s not just about making money, it’s not just about building a great business, it’s about making real estate better for regular people,” he said. “We have done it our way, with real estate agents and software engineers working together as partners, where we are one Redfin.”

As the only major brokerage building virtually all of their own software, Redfin is internally designed for growth. The company utilizes next-generation technology, like machine learning, and comprehensive listings data to make buying and selling homes easier, faster, and less expensive for consumers.

“Redfin has been redefining the real estate industry since its inception, and we are proud to have them join Nasdaq’s family of innovative companies as they continue to disrupt the market with new and unprecedented ideas,” said Nelson Griggs, Executive Vice President, Head of Global Listings, Nasdaq.

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