Redfin Raises $50M From Tiger Global, T. Rowe Price, Others
Redfin just raised $50 million, more than double what the Seattle-based online real estate brokerage had raised from venture capitalists in its prior 11 years in business.
The company brought on new investors Tiger Global Management and T. Rowe Price Associates’ portfolios for this “mezzanine investment.” Previous investors Greylock Partners, Globespan Capital Partners, Draper Fisher Jurvetson, Vulcan Capital, and The Hillman Company also re-upped in this round, which brings Redfin’s total venture financing to $95.7 million.
Redfin last raised money in 2011, landing $14.8 million.
The financing was revealed in corporate documents dug up by GeekWire’s John Cook last night, prompting the company to release its official announcement.
Redfin says the new capital will allow it to invest in new technology for each stage of the home sales process.
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Regarding the hedge fund industry, although it is starting to slowly
recover from the bloodbath of 5 years ago, we expect assets to recover
slowly to $1.5 trillion by year end 2013. That’s slightly better than
the total at the end of 2008 but still well below the peak in 2007. A
major constraint on the growth of hedge funds is the size of their
investors’ portfolios: the collective wealth of pension funds, insurance
companies, endowments, sovereign-wealth funds, high-net-worth
individuals, and other such investors fell from $91 trillion in 2007 to
an estimated $75 trillion by the end of 2008.
Ziad Abdelnour