Redifon Is Is being obtained In an all -stock transaction that value the real estate listing platform 75 1.75 billion.
Is the acquiring company Rocket companiesA derotite, Michigan -based finance and real estate holding firm that operates various brands that have rocket marijuana, rocket mini (rocket mini (The first turbulent), And rocket loans.
CEO of rocket companies, “Rockets and Redfin have a united vision of a better way to buy and sell houses.” Varun Krishna I said in a Description. “We will work together, to improve the experience of the search and financing process by connecting the traditional controversial steps with well -known technology that relieves friction, reduces costs, and increases the price to US domestic buyers.”
Founded out of Seattle in 2004, Redfan serves the real estate brokerage platform for markets in the United States and Canada. Self -made “Amazon of real estate” Went to the public level in 2017And its shares usually do a flat business for about $ 20 in the following years. But as many tech companies, Redfin increased during pandemic disease, its stock hit $ 96 at a height at the early 2021, before most of the last three years below $ 10 below $ 10.
Subsequently, Redfin’s shares fell more than 30 % in the past two weeks Q4 2024 revenue loses estimatesThe company also provided weak guidance for the current quarter.
Rocket companies, for part of, Went to the public level in 2020And today’s market cap billion is 31 billion. The company for the month of March 7, 2025. The proposed bid of 12.50 represents 63 % of the premium compared to the average value of the Redphone volume (VWAP). The offer contains 0.7926 shares for each shares of rocket companies, with 95 % shares combined with stocks and redfines for each part of the Red Fan joint stock.
Although the two boards of directors have already approved the transaction, Redphone’s shareholders need to stamp the agreement, which Redfin says he is expected to be in Q3, 2025. CEO and President of RedFin Glenn KelmanWhich has led the company since 2005, will continue under the patronage of the Redphone, and will directly inform Krishna.
This article was updated to provide a correction that Redfan is not being taken private.