#Redfin, the US-based real estate tech firm, is moving closer to its proposed initial public offering (#IPO). The company this week filed an application for its IPO, using the technology-powered residential real estate brokerage term for its initial debut on the #Nasdaq.

According to Wall St. 24/7, the company has filed an amended S-1 form with the SEC (or the United States Securities and Exchange Commission) for its IPO. The real estate tech firm plans to price its 9.32 million shares in the range of $12 to $14 per share.

Additionally, there are also plans for an overallotment option for an additional 1.38 million company’s shares.

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The entire offering has been valued around $148.62 million, and it plans to list its shares on NASDAQ stock exchange using the symbol RDFN. This marks the first NASDAQ IPO debut from a Washington-based technology company this year.

Financial giants Goldman Sachs, Merrill Lynch, RBC Capital Markets, Oppenheimer, Stifel and Allen & Co. will be the underwriters for the Redfin’s offering.

Redfin, a closer look at the tech-powered real estate firm

Founded in 2004 and based in Seattle, Washington, Redfin is a technology-powered real estate brokerage company that provides web-based real estate database and brokerage services in over 80 markets across the United States. The company aims to redefine real estate in consumer’s favor, helping customers buy or sell homes.

The company is growing fast, reaching more than 20 million monthly average visitors through its mobile apps and website in the first quarter of this year.

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That’s 44 percent higher than the previous year, making Redfin one of the fastest-growing real estate-focused websites on the market today.

Before its planned NASDAQ IPO debut, Redfin had made a number of participations in several funding rounds, with the biggest raised fund of $50 million led by T.Rowe Price and Tiger Global Management. The company has managed to raise around $96 million in its total venture funding.

Then in 2014, Redfin raised another $70.9 to fuel the expansion of its software-powered real-estate business in the US market. That funding round was led by Wellington Management Co., Glynn Capital Management, with some participation from Annox Capital Management, Brothers Brook, T.Rowe Price and Tiger Global Management.

Redfin offers a great working environment. The company employs its agents directly and pays them a salary, departing from the traditional commission-based structure of traditional real estate companies. Redfin’s agents are reviewed after every transaction made.

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All of the reviews made, successfully or otherwise, are posted on the Redfin’s official website under the agent’s profiles.

Redfin to use the fresh capital for planned expansion

The Seattle-based company is reportedly looking to position itself as a more tech-oriented company, part of a strategy to command a much higher market valuation at the time of its NASDAQ IPO debut.

Redfin said it plans to use the net proceeds from its IPO debut for technology development and other corporate purposes. It also plans to use the money for marketing and expansion plans. The company also stated on its website that it could use the fresh capital to acquire a new company or invest in other companies.