Zillow's Stellar Debut Stokes Fears of Another Internet Bubble
(Reuters) - Shares of real estate site Zillow Inc. skyrocketed in their market debut on Wednesday, the latest to ride a wave of dot-com exuberance while stoking fears of lofty Internet valuations. The 6-year-old, loss-making real estate website, which recorded $30.5 million in revenue last year from providing housing value appraisals online, soared to as much as $60 -- a three-fold increase from its IPO price of $20. Investors shrugged off the company's dependence on an uncertain advertising and housing market. Zillow's initial pop in value bested social media player LinkedIn, which doubled in value in its first day of trade in May. "The mere fact that LinkedIn and HomeAway did so very well only helped , and put even more euphoria into
21 July 2011•3 mins read
