Rocket Companies to acquire Redfin for $1.75B

Redfin is being acquired in an all-stock transaction that values the real estate listing platform at $1.75 billion. The acquiring company is Rocket Companies, a Detroit, Michigan-based finance and real estate holding firm that owns various brands including Rocket Mortgage, Rocket Money (formerly Truebill), and Rocket Loans. The combined entity will essentially pool the two companies’ respective strengths in home search services and financing. “Rocket and Redfin’s approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical,” Redfin CEO Glenn Kelman said in a statement. “We want a customer to be able to check her phone to find out what she can afford, see which homes are just right for her, schedule a tour with a local, expert Redfin agent, and get pre-qualified for a loan, all in a matter of minutes.” Founded in Seattle in 2004, Redfin runs a residential real estate brokerage platform for the U.S. and Canadian m ... Read full article.