Real estate Tech files To Go Public

Redfin files for IPO in search of new home on Nasdaq

@KPKELLEHER JUNE 30, 2017 2:40 PM

Image Credit: Redfin

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Redfin, an online brokerage for the residential real estate market, filed to go public late Friday. Redfin plans to list its shares on Nasdaq under the ticker RDFN. Redfin’s filing said it plans to raise $100 million, although this figure is often included as a placeholder ahead of a roadshow.

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The company’s online agents use its technology to offer commissions it says are well below traditional brokerages. In a letter to shareholders included in the prospectus, Redfin described itself as “rabid squirrels on a mission to make real estate better, and to treat everyone we work with along the way respectfully.”

The Seattle-based company said its revenue grew 44 percent year over year to $59.9 million in the first quarter of 2017 and posted a net loss of $28 million, against a net loss of $24.4 million in the year ago period. Last year, the company saw revenue grow by 43 percent to $267 million and its net loss decrease to $22.5 million from $30.2 million in 2015.

The company said its cash flow last quarter was a negative $22 million and that it had $38 million in cash on hand as of March 31.

The prospectus included a disclosure that the company began testing last quarter an “experimental” service called Redfin Now, in which Redfin buys homes directly from sellers and resells them to buyers. “Customers who sell through Redfin Now will typically get less money for their home than they would listing their home with a real estate agent, but get that money faster with less risk and fuss,” the filing said.

Redfin says it has no specific plans for the IPO proceeds, but plans to keep the money in short-term investments for use in general corporate purposes, including technology and marketing. Goldman Sachs and Allen & Co. are listed as lead underwriters of the offering.

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Seattle Population Exceeds 700,000 For First Time, According To US Census

if you want to know why the waits are longer and traffic is worse then according to a recent Patch report We are 3/4 of million people now. See full story

Seattle and other Puget Sound cities have hit major population milestones, according to data released Thursday by the U.S. Census Bureau.

By Neal McNamara (Patch Staff) – Updated May 25, 2017 2:13 pm ET
Seattle Population Exceeds 700,000 For First Time, According To US Census

SEATTLE, WA – Seattle crossed a major milestone last year: for the first time ever, the city’s population exceeded 700,000. According to data released by the U.S. Census Bureau Thursday, Seattle now has approximately 704,000 residents. In the year ending July 1, 2016, Seattle added more than 20,000 residents, which is the fastest rate of growth in the U.S.

Overall, Seattle was No. 5 on a list of the largest 15 cities for total population added between July 1 2015 and July 1 2016. Seattle still remains the 18th largest city in the U.S., behind Charlotte, N.C., and its 842,000 residents.

What’s amazing about the 700,000 number is how quickly it happened.

Seattle only crossed the 600,000 population threshold around 2010. In the 2000 census, the population of Seattle was measured at about 560,000. Between 1980 and 2000 – a span of 20 years – Seattle added about 173,000 residents.

In other words, it took Seattle just six years to add about half the number of residents that the city added between 1980 and 2010. Seattle now has more residents than Detroit (713,000), which once had a population close to 2 million at its peak in the 1950s.

Seattle wasn’t the only Puget Sound city that grew. Renton surpassed 100,000 residents for the first time ever, and Eastside cities like Bellevue and Issaquah experienced tremendous growth. Here’s a look at how other cities around the region grew between 2015 and 2016:

City 2015 Estimate 2016 Estimate Increase
Bellevue 134,630 141,400 5%
Renton 97,234 100,953 3.8%
Tacoma 203,481 211,277 3.8%
Everett 105,685 109,043 3.1%
Shoreline 54,774 55,333 1%
Puyallup 38,720 40,640 4.9%
Lakewood 59,122 60,665 2.6%
Issaquah 33,682 37,322 10.8%

Image Patch.com file photo

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Former VP Training Local Leaders

Former Vice President Al Gore and Climate Reality group train 800 leaders

More than 11 years ago, “An Inconvenient Truth” debuted, featuring a slide show former Vice President Al Gore put together detailing the dangers the world faced from climate change.

Glacial melt, increased extreme weather events and widespread drought were just a few of the effects of an increasing global temperature assisted by man-made pollutants.

On Tuesday, Gore came to Bellevue and presented his followup presentation to more than 800 climate change leaders at the “Climate Reality” training in Downtown’s Meydenbauer Center.

“We need to ask ourselves three questions: One, do we need to change? Two, can we change? Three, will we change?” Gore asked. “The answer to all three questions is yes, for the record.”

The Climate Reality Project was founded by Gore in 2011, and seeks to train leaders who can take information and advocacy back to their communities all over the world. Bellevue hosted the 35th Leadership Corps training for Climate Reality June 27-29. Much of Gore’s topics focused on major issues in the state of Washington.

After a prayer from the great-great-great-great-grandson of Chief Seattle, Ken Workman, several speakers reinforced the importance of their cause.

“We want you to go out and speak knowledgeably about climate change and organize around climate change,” said Ken Berlin, president and CEO of Climate Reality. “We have to minimize damage from this administration. We can’t afford to have a four-year gap in our efforts.”

Much like in his slide show in an “Inconvenient Truth,” the former vice president pointed to piles of scientific studies to back his and the vast majority of the scientific community’s arguments about anthropogenic climate change, citing the increasing frequency of extreme weather events and the scarcity and humanitarian issues they are poised to cause as good catalysts to enact change.

If the human race continues its current output of adding 110 million tons per day of carbon into the atmosphere, mid-range projections have the planet’s average temperature rising by 5.8 percent by 2050.

Gore pointed to massive flooding in Carnation, Stanwood and the tragic Oso landslide as “freak” events happening more and more often as the

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People Helping People Is A Powerful Thing

Heartwarming moment strangers present a 20-year-old Texas fast food worker who walks SIX MILES to and from work every day with a car

  • Andy Mitchell saw Justin Korva, 20, walking to work in a fast-food uniform 
  • Korva was walking in 95 degree heat, so Mitchell gave the young man a lift
  • Korva told him he was walking the three miles to work because he was saving for a car of his own
  • Mitchell rallied his community and raised enough money to buy Korva a car
  • There was enough money left over for a year of insurance, two years of oil changes and a $500 gas card
  • Mitchell said he was inspired by Korva’s work ethic and determination 
  • Video shows the moment Korva is surprised with the car by his new friends

By Jessica Finn For Dailymail.com

PUBLISHED: 09:50 EDT, 28 June 2017 | UPDATED: 11:32 EDT, 28 June 2017

The emotional moment a group of Texas strangers presented a 20-year-old fast food worker who walked six miles for work every day with a car has been captured on camera.

Justin Korva began crying when he was given the vehicle days after telling Andy Mitchell of Rockwall he was walking so he could save for a car of his own.

Mitchell had rallied his community to raise money and after just 48 hours the efforts yielded enough cash to buy the car.

Video playing bottom right…
Justin Korva (left) and Andy Mitchell (right). Mitchell rallied his community in Rockwall, Texas to buy Korva a car after hearing Lorva walks 3 miles to work everyday in an effort to save for one himself 

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Justin Korva (left) and Andy Mitchell (right). Mitchell rallied his community in Rockwall, Texas to buy Korva a car after hearing Lorva walks 3 miles to work everyday in an effort to save for one himself

Mictchell (right) explains to Korva (left) how he was so impressed with his story that he wanted to make his dream of owning a car come true

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Mictchell explains to Korva (pictured) how he was so impressed with his story that he wanted to make his dream of owning a car come true

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Mictchell (right) explains to Korva (left) how he was so impressed with his story that he wanted to make his dream of owning a car come true

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Mictchell (right) explains to Korva (left) he was so impressed with his story that he wanted to make his dream of owning a car come true. The men hug before Korva checks out his new car

The temperatures were around 95-degrees when Mitchell saw Korva walking along side the road in his Taco Casa uniform on June 21.

During the drive to Korva’s job at Taco Casa, Korva told Mitchell he was determined to save up money and someday, he hoped, he would be able to afford a car.

Walking three miles to work, and three miles back home in the Texas heat was the way to get to his dream.

After dropping off Korva at work, Mitchell posted about the man’s determination on Facebook.

‘To all the people that say they want to work but can’t find a job or don’t have a vehicle all I can say is you don’t want it bad enough,’ Mitchell wrote.

Read more: http://www.dailymail.co.uk/news/article-4647064/Strangers-buy-car-Texas-man-walks-3-miles-work.html#ixzz4lLAKYCG0
Follow us: @MailOnline on Twitter | DailyMail on Facebook

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Homelessness spotlight in Seattle

Local media spotlight homelessness with #SeaHomeless project

The day-long conversation involves several local media outlets

By Kirsten O’Brien, SeattlePI

  • SeattlePI.com is joining several other Seattle media outlets in a conversation about individuals experiencing homelessness and the unique struggles they face Wednesday, June 28, 2017. You can follow the conversation on social media through the #SeaHomeless hashtag or visit Crosscut for a full list of stories from participating outlets. Photo: GRANT HINDSLEY, SEATTLEPI.COM / SEATTLEPI.COM

Photo: GRANT HINDSLEY, SEATTLEPI.COM
SeattlePI.com is joining several other Seattle media outlets in a conversation about individuals experiencing homelessness and the unique struggles they face Wednesday, June 28, 2017. You can follow the conversation on social media through the #SeaHomeless hashtag or visit Crosscut for a full list of stories from participating outlets.

For the second year in a row, Seattle media outlets are banding together to tell the stories of those who are often seen but rarely heard through the #SeaHomeless project.

As Seattle grows at a breakneck pace but continues to struggle housing some of its most vulnerable citizens, today is dedicated to the more than 11,000 people in King County grappling with finding safe, permanent and affordable housing.

The project is spearheaded by Crosscut, where you can find a list of all stories in the project. You can also follow the conversation on Twitter through the #SeaHomeless hashtag. You can see a full list of participating organizations and learn more about the project here.

SeattlePI.com’s contribution this year, written by city affairs reporter Daniel DeMay with photographs by Genna Martin, explores the experience of an entire family experiencing homelessness, as well as the unique challenges faced by children who grow up in poverty. You can read it here.

You can find our coverage from last year’s #SeaHomeless project below:

Find all of SeattlePI.com’s homeless coverage here.

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