Redfin provides real estate search and brokerage services through a combination of real estate web platforms and access to live agents. It is a technology-powered real estate brokerage that represents people buying and selling homes. The Company has a team of real estate agents who earn a salary and customer-satisfaction bonuses, not commissions. Redfin features all of the broker-listed homes for sale, as well as for-sale-by-owner properties. The Company's real estate agents work with Redfin's team of engineers to create tools that make the buying and selling process easier.
Type
Public
HQ
Seattle, US
Founded
2004
Size (employees)
2,596 (est)+4%
Website
redfin.com
Redfin was founded in 2004 and is headquartered in Seattle, US
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Key People/Management at Redfin

Glenn Kelman

Glenn Kelman

CEO
Chris Nielsen

Chris Nielsen

Chief Financial Officer
Bridget Frey

Bridget Frey

Chief Technology Officer
Jani Strand

Jani Strand

Senior Vice President, Brand Marketing and Communications
Karen Krupsaw

Karen Krupsaw

Senior Vice President, Real Estate Operations
Anthony Kappus

Anthony Kappus

Vice President of Legal, General Counsel and Corporate Secretary
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Redfin Office Locations

Redfin has offices in Seattle, Chandler, La Crescenta-Montrose, Irvine and in 32 other locations
Seattle, US (HQ)
600, 1099 Stewart St
Alpharetta, US
110 5900 Windward Pkwy
Bellevue, US
100 3055 112th Ave NE
Carlsbad, US
5942 Priestly Dr
Chandler, US
112 2121 W Chandler Blvd
Chantilly, US
f 4460 Brookfield Corporate Dr
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Redfin Financials and Metrics

Redfin Financials

Redfin's revenue was reported to be $267.20 m in FY, 2016 which is a 42.6% increase from the previous period.
USD

Revenue (Q2, 2017)

104.9 m

Gross profit (Q2, 2017)

37 m

Gross profit margin (Q2, 2017), %

35.2%

Net income (Q2, 2017)

4.3 m

EBIT (Q2, 2017)

4.3 m

Market capitalization (27-Oct-2017)

1.6 b

Closing share price (27-Oct-2017)

23.1

Cash (30-Jun-2017)

54.2 m

EV

1.6 b
Redfin's current market capitalization is $1.6 b.
Annual
USDFY, 2014FY, 2015FY, 2016

Revenue

125.4 m187.3 m267.2 m

Revenue growth, %

49%43%

Cost of goods sold

93.3 m138.5 m184.5 m

Gross profit

32.1 m48.8 m82.7 m
Quarterly
USDQ1, 2016Q2, 2016Q1, 2017Q2, 2017

Revenue

41.6 m77.7 m59.9 m104.9 m

Cost of goods sold

38.5 m50.3 m53.5 m68 m

Gross profit

3.1 m27.4 m6.4 m37 m

Gross profit Margin, %

8%35%11%35%
Annual
USDFY, 2015FY, 2016

Cash

85.6 m64 m

Prepaid Expenses

6.6 m4.4 m

Current Assets

103 m93.4 m

PP&E

7.4 m19.2 m
Quarterly
USDQ1, 2017Q2, 2017

Cash

36.2 m54.2 m

Prepaid Expenses

3.3 m2.5 m

Current Assets

72.8 m87.5 m

PP&E

22.4 m22.1 m
Annual
USDFY, 2014FY, 2015FY, 2016

Net Income

(24.7 m)(30.2 m)(22.5 m)

Depreciation and Amortization

2.7 m4.4 m6.3 m

Accounts Payable

913 k152 k638 k

Cash From Operating Activities

(13.6 m)(22.2 m)(9.3 m)
Quarterly
USDQ1, 2016Q2, 2016Q1, 2017Q2, 2017

Net Income

(24.3 m)(22.9 m)(28.1 m)(23.8 m)

Depreciation and Amortization

1.4 m2.9 m1.9 m3.5 m

Accounts Payable

384 k332 k(2.9 m)901 k

Cash From Operating Activities

(19.3 m)(18.7 m)(22 m)(371 k)
USDY, 2017

EV/EBIT

366.6 x

EV/CFO

-4.2 k x

Revenue/Employee

44.2 k

Financial Leverage

-0.2 x

P/E Ratio

385.2
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Redfin Operating Metrics

FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017Jun, 2017Q2, 2017

Average Number of Lead Agents

422 509 568 621 667 591 743 756 756 796 763 935 1.01 k

Patents (US)

10

Real Estate Revenue per Real Estate Transaction

$6.47 k$6.26 k$6.74 k$6.70 k$6.54 k$6.60 k$6.79 k$7.49 k$7.47 k$7.48 k$7.37 k$7.55 k$7.69 k

Trademarks (US)

18
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Redfin Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
Walk Score October 22, 2014
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