From the Redfin Corporate Blog:
Big news! Redfin just announced a $10-million round of financing led by Greylock Partners’ James Slavet and his colleague David Thacker. Redfin’s group of existing investors — Madrona Venture Group, Vulcan Capital, DFJ, The Hillman Company — also pitched in on the round.
This new round of financing brings the total investment [...]
Says CEO Glenn Kelman, via Techcrunch
…the run rate is around $15 million. 2007 revenues were $5 million, 2006 revenues were $1 million.
Congrats to all the folks at Redfin. Their model, while clearly controversial, seems to be succeeding.
Their web site is world class (see 10 Kick Ass Real Estate Search Sites) and the company has pushed [...]
I was out sick for most of last week so rather than regurgitate a bunch of old news; here’s a quick summary of the reaction to some of the bigger stories.
Redfin’s New (Old) Business Model
Redfin launched a referral-based business model that allows them to expand in to new markets. They also add data-rich review pages [...]
This week Redfin shuttered its hyperlocal Sweet Digs blogs in San Francisco, Boston, San Diego and Orange County.
Sweet Digs Seattle is still alive but it looks like it has turned into a more traditional brokerage blog; now just advertising Redfin’s new listings and open houses.
Sweet Digs was initially founded to replicate the formula pioneered by [...]
In what is likely the first of many more of these sorts of announcements in the real estate space, Redfin is laying off 20% of their employees.
In a post on its company blog yesterday, Redfin CEO Glenn Kelman explained that the layoffs were due to the company being hit by market conditions that “wiped out [...]
by tropicdiver
Redfin’s new release is breaking new barriers, literally – they are adding bank-owned foreclosures and for-sale-by-owner inventory along side alongside their MLS listings (more from 4realz.net). The first, as far as I know, of any major brokerage to do so.
Definitely a smart move for the company which has long been out front pushing for [...]
Like many in the real estate blogosphere I’ve been playing around with Twitter a lot recently. (Follow me here jburslem)
I wrote a post on the Inman Blog recently where I described one application of the service; how you could use it to subscribe to news and essentially build a real time teleprinter for your [...]
So the company claims. If you use its services you will save over $15K says Glenn Kelman on the Redfin Blog, quoting results of a new analysis of their business model:
Redfin home-buyers over the past twelve months paid on average 1.015% below homes’ asking price, while customers of other brokerages paid .087% below asking price.
This [...]
Say what you like about their business model, Redfin’s real estate search tools are world class and only keep getting better.It’s why it was the only national real estate broker (I defined “national” as anyone having operations that spanned both coasts) to make my list of 10 Kick Ass Real Estate Search Sites.They’ve just released [...]
It seems to happen like clockwork these days, Redfin launches a new feature on its website – Mike Arrington writes another fawning review on Techcrunch.
Don’t get me wrong, I like Redfin. I really admire what they are trying do. Plus, Glenn Kelman is a really nice guy and an absolute master at playing up his [...]
