On Zillow's first day of trading on the Nasdaq, its shares more than doubled, soaring to $45 this morning from its initial pricing of $20 a share.
The company sold 3.46 million shares to raise $70 million. It will also complete a private placement, totaling $5 million, and will have the option of selling 500,000 additional shares, depending on demand.
The Seattle-based company, which aggregates real-estate listings and mortgage information, trades under the ticker symbol "Z." (Later in the day, shares had fallen back to just above $38.)
Zillow expects to use the proceeds for … Read more