Who owns Redfin?

Redfin is a real estate brokerage that was founded in 2004 by David Eraker, Michael Dougherty, and David Selinger. Redfin began by offering online, map-based real estate searches and branched out into adding homes for sale on an online map. Selinger helped to build Redfin's mapping and real estate data analytics engine.

After receiving $1 million in initial financing from Madrona Venture Group, Redfin raised an additional $8 million in Series B funding from Vulcan, Inc in May 2006. Redfin went public in July 2017 and the IPO raised $138 million. The offering was priced at $15 per share, which was above the expected price range of $12 to $14.

Redfin has evolved into a full-service brokerage whose business model is to undercut the competition by having sellers pay Redfin a discounted fee of 1.0 to 1.5% to list the seller's home. This does not include the fee charged to the seller to compensate the brokerage representing the buyer.

Buyers who buy with Redfin also get a portion of the brokerage's commission back that can be applied to their closing costs or in the form of a tax-free check after they close on their home.

Redfin has been named "Innovator of the Year" by Inman News as well as one of the best companies to work for in USA Today. In 2021, Redfin had annual revenue of $1.92 billion with over 6,000 employees working for the company.