Shares of Seattle, Washington-based Zillow Inc. (Z) rose on Tuesday, on a rising day on Wall Street overall. Zillow’s stock closed up $12.79 per share, or 14.05%, to $103.84 per share, on volume of 3,231,611 shares. Tiger Global Management hedge fund founder, Chase Coleman, has taken a 9.5% stake in the company, as of last week. Zillow, Inc. is the Internet’s largest real estate information marketplace, and the company offers products and services to help consumers at every stage of homeownership. This includes buying, selling, renting, borrowing, and remodeling. The company is best known for it’s popular Zillow.com website, through which it provides real estate information. It also owns and operates Zillow Mobile, a mobile application which also provides real estate information, as well as Zillow Mortgage Marketplace, where visitors can connect with home lenders, as well as other real estate related websites and applications. In 2013, the company had a net loss of $12.45 million on revenue of $197.55 million. The stock trades on the NASDAQ exchange, and has gained 25% since the beginning of the year. The company plans to announce it’s first quarter earnings report on May 7th. On Tuesday it was revealed that Chase Coleman, founder of hedge fund Tiger Global Management, had acquired 3,136,081 shares in Zillow, Inc., representing a 9.5% stake in the company. The acquisition took place on April 21st. Coleman also has holdings in other name brand Internet based companies, including Priceline.com (PCLN), Amazon.com (AMZN), Yahoo! (YHOO), Groupon (GRPN) and Twitter (TWTR). The acquisition by Coleman may be seen by the market as validation that Zillow is heading in the right direction. Despite the overall net loss for 2013, the company announced in it’s February 12th earning report, that the company actually turned a profit of $2.7 million in the fourth quarter. In addition, fourth quarter revenue increased 70% to $58.3 million. The company also announced that web traffic and mobile usage had reached records. Meanwhile, the company’s balance sheet shows that the company’s cash and cash equivalents increased from $150 million at year-end 2012, to nearly $202 million at the end of 2013. The company’s stock is now trading near it’s 52 week high. On Monday, Zillow announced that it has joined the Real Estate Standards Organization (RESO). RESO is a nonprofit group working to standardize real estate data so that it can be used consistently by multiple listing services, vendors and third parties. Zillow will help inform the development of technology and data standards within the real estate industry. This further cements Zillow’s position as the leading real estate information provider. Other News About Zillow, Inc. Zillow, Move, or Trulia: Which Company Has the Most Upside Potential? Zillow may be the best of the online real estate information stocks. 6 Reasons Zillow is a Sell Despite it’s advantages, the company is having difficulty in the profit department. Other Stocks in the News IBM Hikes Dividend 16% The technology company has increased its dividend 800%, doubling it in the last five years. Twitter tanks as user growth falls short Despite fast rising revenue, Twitter is still struggling to add users at a faster rate.
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