Zillow's Got a New Listing

Redfin is Under Contract

March 14, 2025 - Real estate technology company Redfin (RDFN) has announced that it is under contract to be acquired by a private equity firm. The deal, which is expected to close in the second half of 2025, would see Redfin become a privately held company.

According to the company, the acquisition price is approximately $3.5 billion, which is a significant premium over Redfin's current market value. The deal is subject to customary closing conditions, including regulatory approval.

Redfin has been a pioneer in the real estate technology space, providing a platform for buyers and sellers to connect and facilitating the home buying and selling process. The company has grown rapidly since its IPO in 2017 and has become one of the largest real estate brokerages in the country.

The acquisition is seen as a strategic move by the private equity firm, which is looking to expand its portfolio in the technology sector. The deal is also expected to provide Redfin with the resources and support needed to continue its growth and innovation.

"This is an exciting development for Redfin and our customers," said Redfin CEO Glenn Kelman. "As a privately held company, we will have the flexibility to make decisions that are in the best interests of our customers and our business, without the pressure of quarterly earnings reports."

The deal is expected to close in the second half of 2025, pending regulatory approval. In the meantime, Redfin will continue to operate as an independent company.