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New Deal


Announced

Durable Capital Partners to invest $110m in Redfin.

Financials

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Transaction Value£88m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Real Estate Services

Pending

Public

United States

Private Equity

Acquisition

Friendly

real estate brokerage

Minority

Single Bidder

Synopsis

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Durable Capital Partners, a venture capital firm based in Chevy Chase, Maryland, agreed to invest $110m in Redfin, a technology-powered real estate brokerage. "Durable's Henry Ellenbogen has been leading investments in Redfin since 2013, when we were a private company and the market was recovering from the great financial crisis. In chaotic times, he understands our long-term commitments to our culture and our technology, and why those commitments position us to take share in a housing market that is being transformed by this pandemic to be more virtual, convenient and efficient. We're proud to be his partner," Glenn Kelman, Redfin CEO.

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