Redfin Is be acquired In an all-act transaction that estimates the real estate list platform for $ 1.75 billion.
The acquiring company is Rocket companyA financial and real estate company company based in Detroit, which operates various brands, including Rocket Mortgage, Rocket Money (Former trubil) and rocket loans.
“Rocket and Redfin have a uniform vision of a better way to buy and sell houses”, CEO from Rocket Companies Varun Krishna said in A opinion. “Together we will improve the experience by traditionally combining different steps of the search and financing process with a leading technology, which eliminates the friction, reduces costs and increases the value for American home buyers.”
Redfin was founded in 2004 from Seattle and serves a motorhomesmobile broker platform for the US and Canadian markets. The self -proclaimed “Amazon of Real Estate” Went to the stock exchange in 2017And in the following years, his shares were generally flat with around 20 US dollars. But as with many tech companies, Redfin increased during pandemic, with her stock reaching an all-time high of $ 96 in early 2021 before falling to less than $ 10 for the past three years.
The shares of Redfin had fallen in the last few weeks after his more than 30% Q4 2024 income missed estimatesWhile the company also gave weak guidelines for the current quarter.
Rocket companies in turn, went public in 2020And today a market capitalization of 31 billion US dollars has. The proposed offer of the company of $ 12.50 corresponds to a premium of 63% compared to the average price (VWAP) from Redfin for the month to March 7, 2025. The offer includes 0.7926 shares of the rocket company classes for each share, which has 95% of the proportion of shares in redness and Rottel shares, 95% of the share and share Rotel shares that have 5% of the new shares.
The new combined company essentially troubles the respective strengths of the two companies in the search services and the financing of home companies and brings everything together under a virtual roof.
“The approaches of Rocket and Redfin for the credit and broker service have always been two halves of a vision to make the entire house purchase process magical,” CEO from Redfin Glenn Kelman said in an explanation. “We want a customer to check your phone to find out what you can afford to find out which houses are suitable for you, plan a tour with a local, expert Redfin Agent and are pre -qualified for a loan in a few minutes.”
While both administrative councils have already approved the transaction, Redfin’s shareholders still have to interrupt the Deal Rubberstamp, which, according to Redfin, is expecting in the third quarter of 2025.
This article has been updated to clarify that Redfin will remain a stock company as part of the rocket companies.
