Trulia IPO Debuts with Impressive 40% Gain
Trulia (NYSE: TRLA) began trading Thursday, with an opening price of $22.10 per share, up from the initial offering price of $17. During Thursday's session, Trulia traded at $24.47 -- up 43.96 percent.
Trulia is an online real estate company that has been around since 2005. Its headquarters is located in San Francisco, with over 460 employees across the country including offices in New York City and Denver. The company boasts of 22 millions users a month searching over 4.5 million estate and rental listings. On the technological side, the company offers Trulia Voices, an online community for real estate advice as well as developing top-rated real estate apps for mobile devices.
Comparing TRLA to a similar company and competitor, Zillow (NASDAQ: Z) offered its IPO shares at $20.00, closing its first day at $33.14 per share. Both of these online real estate listings have faired much better than other web-based IPOs: Zynga (NASDAQ: ZNGA), Angie's List (NASDAQ: ANGI), Facebook (NASDAQ: FB), and Groupon (NASDAQ: GRPN).
The worst of the bunch is Groupon, which is trading down over 75 percent from its initial offering price, now at $5.33. Shares of Zynga, the social gaming company, are down 66.79 percent from its debut, trading at $3.19. Angie's List and Facebook have also traded lower, with ANGI down 26.3 percent while FB has declined 39.89% since their respective debut dates.
With the help of the upward movement of the housing market, Trulia and Zillow could easily continue their growth. Zillow is trading up 33.32 percent from its initial offering price, with a gain of 20.87 percent over the last month alone, trading at $46.33. If TRLA's growth is anything similar to Zillow's, now might be the time to jump on board.
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