Online real estate site Trulia filed for an IPO today and plans to list on the New York Stock Exchange under the symbol TRLA. The lead underwriters include JPMorgan (NYSE:JPM) and Deutsche Bank Securities (NYSE:DB).
Trulia makes it easy for users to search for homes, providing useful information like market values and neighborhood details. The database includes 110 million properties.
As of the end of June, Trulia attracted 22 million monthly unique visitors (MUVs). Yes, the mobile business has also been strong, with 4.3 million MUVs. And if the U.S. housing market is truly on the mend, those numbers could grow as home sales rebound.
Yet there’s a good chance investors will buy into the IPO. Just look at the performance of Trulia’s main rival, Zillow (NASDAQ:Z). The company came public in July 2011 at $20, and the shares are now trading at $35.70.
A long-time follower of the IPO scene, back in 1999 Tom started one of the first sites in the space called WebIPO. It was a place where investors got research as well as access to deals for the dot-com boom. Tom also wrote the top-selling book, Investing in IPOs. In it, he covers all the aspects of analyzing an IPO, such as reading the prospectus, detecting the risk factors and understanding some of the arcane regulations. But don’t worry — if that process is too intimidating for you, thankfully Tom will do the legwork for you right here in the IPO Playbook blog.
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