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Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

March 16, 2011 at 11:07 AM

Zillow gears up for IPO, hires bank

Finally, after dropping all sorts of hints, Zillow is taking formal steps to go public.

The company hired Citigroup to handle its initial public offering, according to a Bloomberg report citing three unnamed people with knowledge of the plans.

There was no information about when the IPO would take place, but the implication is later this year.

Zillow was started by former Expedia and Microsoft executives and became one of Seattle’s best-funded consumer Web startups in the last cycle. Bloomberg noted that a $30 million round of financing in 2007 valued Zillow at $400 million.

A spokeswoman and Zillow’s chief executive declined to comment.

Maybe they should talk to PopCap Games, another Seattle consumer company that’s been candid about its plans to go public later this year.

Comments | More in | Topics: Zillow

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