Trulia eyes M&A with $150M in follow-on offering
- Cromwell Schubarth
- Senior Technology Reporter- Silicon Valley Business Journal
- Email | Twitter | Google
The San Francisco-based company (NYSE:TRLA) led by Pete Flint could be planning some acquisitions, saying it plans to use “some or all of such net proceeds to acquire or invest in complementary businesses, products, services, technologies, or other assets.”
Palo Alto-based Accel Partners and Menlo Park-based Sequoia Capital are two of Trulia's biggest
shareholders. Accel now owns more than 13 percent of the company and could sell
about 800,000 shares in the offering. Sequoia owns more than 8 percent of the
existing shares and doesn't plan to sell any in this offering.
Trulia last month posted a net loss of $1.59 million, or 3 cents a share,
compared to a net loss of $2.5 million, in the same period a year ago. Revenue
rose by 75 percent to $20.6 million.The company raised $102 million in its September IPO, selling its shares at $17 each. The stock has traded as high as $38.22 last month and closed Friday at $30.44.
Click here to read the SEC filing by Trulia.
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Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.
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