Forbes is reporting that Trulia, the U.S-based real-estate directory, yesterday priced 6 million shares at $17, which is higher than the previously expected range of $14-16 a share.
After the IPO, Forbes writes that the company will have 26.4 million shares outstanding, which will give the company a market cap of around $449 million (€345 million). If you’re interested, many more of the significant figures can be found summarized in the Forbes article, or by reading the S-1 filing. Trulia will trade under the symbol TRLA.
After doing some digging around, I found that Zillow, a competitor, is suing Truila for violating their patented “process for using data input by users to refine automatic home valuations.”
From what I understand, it’s fairly typical for competitors to sue right before an IPO, hoping for an easy settlement. Right now all Trulia wants is a smooth public offering, so it will be interesting to see what exactly comes of it.
We cover Trulia because it was co-founded by a Finn, Sami Inkinen, who now sits on the board of directors. Trulia’s S-1 forms show Inkinen owns 10.6% at the time of filing.
Inkinen will be a keynote speaker at our Arctic15 conference. There we will also have Phil Libin of Evernote and Mikkel Svane of Zendesk. All of whom are somewhere in the IPO process, so it will be great to hear their experience building proven companies.