Zillow competitor Trulia files for $75M IPO

The real estate listing site sees revenue double every year since 2009


One year after real estate listing site Zillow went public (and became one of the handful of Web companies whose stock didn’t tank shortly thereafter), a worthy real estate contender is also eyeing a public debut. Trulia has filed an S-1 form for an IPO that could generate $75 million. The company hasn’t yet specified how many shares it’s going to sell or the price, but those things will come in time.

Rumors bubbled up last month of a confidential IPO filing using a provision of the JOBS Act that allows emerging growth companies to file secretly if they don't generate as much revenue as larger companies.

The company first launched in 2004 and has since amassed a user base of 360,000 active real estate professionals, 21,544 of whom are paying customers. In June, Trulia had 22 million unique monthly visitors, which is up from five million in June 2009. Additionally, subscribers have increased to 21,544 from some 2,400 in 2009.

Of course, there’s the very real fact that Zillow is already doing what Trulia does, and quite successfully, for that matter. Trulia touches on that issue in its prospectus, mentioning that more than 50% of its user base does not visit Zillow.com, according to comScore.

Its users consist primarily of college educated 25- to 54-year-olds with household incomes over $75,000 a year, and the compan

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