Via Redfin

Redfin, an Internet-enabled residential real estate brokerage, has raised $138 million in its IPO. The Seattle-based company priced 9.23 million shares at $15 per share (above $12-$14 range), for a fully-diluted market value of around $1.56 billion. It will trade on the Nasdaq under ticker symbol RDFN.

Why it matters: The venture capital industry is desperate for a big aftermarket win, following the lead balloon performance of Snap, Blue Apron and Tintri. Not so much for Redfin's specific investors, but for the prospect of bringing other tech companies to market. So this is really more of a prospective "why it matters," since a strong pricing doesn't necessarily translate into trading activity – particularly given that Redfin is (yet another) unprofitable issuer.

Shareholders: Redfin's venture backers include Greylock (12.4% pre-IPO stake), Madrona Ventures (11.4%), Tiger Global (10.5%), DFJ (10.2%), Vulcan Capital (10%) and T. Rowe Price (7.1%).

Bottom line: "Redfin's business is growing, and the company gained market share in 81 of the 84 markets in which it operated. Even so, Redfin's market share stands at just 0.58% nationwide. In its oldest markets, Redfin's market share still hovers below 2%... Last year, Redfin brokers and affiliated real estate agents helped people in the U.S. buy and sell more than 75,000 homes, representing $35.3 million of Redfin's $41.6 million in revenue." – Nat Levy, GeekWire

Go deeper

Obama: The rest of us have to live with the consequences of what Trump's done

Photo: Joe Raedle/Getty Images

Campaigning for Joe Biden at a car rally in Miami on Saturday, Barack Obama railed against President Trump's response to the coronavirus pandemic, saying "the rest of us have to live with the consequences of what he's done."

Driving the news: With less than two weeks before the election, the Biden campaign is drawing on the former president's popularity with Democrats to drive turnout and motivate voters.

Murkowski says she'll vote to confirm Amy Coney Barrett to Supreme Court

Sen. Lisa Murkowski. Photo: Alex Edelman/AFP via Getty Images

Sen. Lisa Murkowski (R-Alaska) said Saturday that she'll vote to confirm Judge Amy Coney Barrett to the Supreme Court on Monday, despite her opposition to the process that's recently transpired.

The big picture: Murkowski's decision leaves Sen. Susan Collins (R-Maine) as the only Republican expected to vote against Barrett.