Redfin is being taken private by Rocket Companies in an all-stock deal valued at $1.75 billion, with plans to enhance real estate transactions. CEO Varun Krishna emphasized a unified vision for improving home-buying through seamless technology integration. Since its founding in 2004, Redfin has been a prominent player in real estate, experiencing volatile stock performance. The acquisition bid of $12.50 offers a 63% premium over Redfin's recent average stock price, pending shareholder approval expected in Q3 2025, with Redfin’s CEO continuing leadership.
"Rocket and Redfin have a unified vision of a better way to buy and sell homes," Rocket Companies' CEO Varun Krishna said in a statement. "Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers."
The proposed bid of $12.50 represents a 63% premium over Redfin's volume weighted average price for the month leading up to March 7, 2025.
Founded out of Seattle in 2004, Redfin serves a residential real estate brokerage platform for the U.S. and Canadian markets.
While both boards of directors have already approved the transaction, it does still require Redfin's shareholders to rubberstamp the deal, which Redfin expects to happen in Q3, 2025.
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