Redfin Corporation - Company Summary

Business Focus:
Redfin is a residential real estate brokerage aiming to redefine the real estate experience in favor of consumers. The company provides agents paired with proprietary technology to deliver faster, higher-quality, and more cost-effective services for buying and selling homes.

Services Provided:

• Home Buying and Selling: Assists customers in over 100 markets across the United States and Canada with real estate transactions.
• Mortgage Origination: Uses technology and local service to originate mortgage loans.
• Title and Settlement Services: Offers title and settlement services through its platforms.
• Rental Platform: Connects consumers with available apartments and homes for rent.

Customer Base & Operations:

• The company serves customers in over 100 U.S. and Canadian markets, though specific customer count and detailed operational metrics are not provided in the excerpt.

Employees:

• As of December 31, 2024, Redfin had approximately 4,934 employees (excluding certain employees outside the U.S. and Canada).

Financial Overview (based on the latest available data):

• Market Value: The aggregate market value of the company's common stock held by non-affiliates was approximately $706.7 million as of the most recent reporting date (February 19, 2025).
• Outstanding Shares: There were 126,389,290 shares of common stock outstanding as of February 19, 2025.
• Revenue & Income:
  • The company reported a net loss of $164.8 million in 2024, primarily driven by factors such as wind-down of RedfinNow (a segment related to iBuying).
  • Specific revenue figures for 2024 are not provided in the excerpt, but the company emphasizes its focus on balancing profitability and growth.

Additional Context:

• Redfin is in a transitional phase, evidenced by the pending merger agreement with Rocket Companies, Inc., which was announced on March 9, 2025, and is subject to shareholder approval.

Summary:
Redfin operates as a technology-enabled real estate broker with a broad national footprint, offering various real estate services including sales, mortgages, and rentals. It emphasizes proprietary technology to improve efficiency and customer experience. Its workforce of nearly 5,000 employees supports its $706.7 million market value and aims to grow and adapt during a period of significant corporate strategic transition.