Trulia debuted its shares on the New York Stock Exchange this Thursday, with an initial-public-offering price of $17, which immediately climbed to $22.10, up 30%, then continued to climb throughout the session, closing the session at $24, up 41% from initial launch.
“It’s been super exciting—this is a historic moment for us,” said Pete Flint, Trulia’s founder and chief executive.
The San Francisco-based company is selling 5 million shares, while certain stockholders are offering another 1 million shares. The company has said that underwriters have a 30-day option to buy up to 900,000 additional common shares offered by Trulia.
Trulia provides home listings on its website and mobile applications, linking consumers with real estate professionals. The property portal makes money selling subscriptions and advertisements.
Trulia is one of the first companies to take advantage of the JOBS Act, which President Obama signed into action earlier this year, designed – in part – to increase the number of initial public offerings.
The property portal said it intends to use the proceeds from the IPO for working capital and other general corporate purposes.
Trulia is listed on the New York Stock Exchange under the ticker symbol TRLA.
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