Trulia, the real estate search site, has filed to go public.
The company had confidentially filed a prospectus last month, according to several news reports at the time, under a provision of the JOBS Act, which was passed last spring. The new law allows companies with annual gross revenue of less than $1 billion to file registration statements with the Securities and Exchange Commission that do not have to be publicly disclosed until 21 days before the company's roadshow to sell the new shares. Trulia's prospectus became public on Friday.
The company said in its filing that it planned to raise $75 million in the stock offering, although that it is a figure used to calculate the registration fee.
The site offers free and subscription services on real estate listings and housing market information. Trulia said in its filing that it had 22 million monthly unique visitors as of June 30. It says it has more than 360,000 active real estate professionals - 21,5 44 of them paying subscribers For the six months that ended June 30, the company said it had revenue of $28.9 million and a net loss of $7.6 million.
Its main competitor, Zillow, went public in July 2011 at $20. On Thursday, Zillow's shares closed at $38.85.
Trulia's investors include Accel, Fayez Sarofim and Sequoia Capital. Based in San Francisco, Trulia says it will seek to list its shares on the New York Stock Exchange under the ticker “TRLA.â€
JPMorgan Chase, Deutsche Bank, RBC Capital Markets, Needham & Company and William Blair are leading the underwriting of the I.P.O.
This post has been revised to reflect the following correction:
Correction: August 17, 2012
An earlier version of this article misstated the size of the planned offering. It is $75 million, not $475 million.
