Real estate brokerage Redfin is putting down roots on the public market, raising $138.5 million in an initial public offering Friday. Documents filed with the Securities and Exchange Commission show that in 2016 Redfin lost $22.5 million on revenue of $267.2 million. That was an improvement from the previous year when the company lost $30.2 million on $187.3 million in revenue. By comparison, Realogy Holdings--parent company of Century 21 Real Estate, Coldwell Banker and Sotheby's International Realty, among others--has a market cap of $4.5 billion. Redfin is the first of a handful of web-first real estate brokerages to go public.

Source: Forbes July 28, 2017 15:14 UTC