KAI RYSSDAL: Make way for the next big IPO to hit the markets. The real estate website Zillow priced its initial public offering in a statement with regulators today — $16 to $18 a share. Ticker symbol when it eventually goes on sale — Z, of course.
The Marketplace Players offer their own Zillow appraisal.
OPERATOR: I-P-Oz.com. Can I help you?
ZILLOW: Hey, it’s Zillow. I got a problem. Your website says I’m only worth $360 million.
OPERATOR: Yep, that’s what our “Stocks-timate” has calculated.
ZILLOW: But I just told everyone I’m worth $500 million. You’re way off.
OPERATOR: Are we? I mean, last quarter you did lose $865,000.
ZILLOW: You have to see me in person to understand. I’ve got a lot of character and charm! My backyard has plenty of room for an addition! I even have…
OPERATOR: Yeah, sorry. Keep in mind, the recent IPO for Pandora wasn’t so hot.
ZILLOW: I don’t even do the same thing as Pandora!
OPERATOR: Are you an Internet-based company?
ZILLOW: Yeah, but…
OPERATOR: I’d say that’s “in the neighborhood.”
ZILLOW: You know, people actually use your questionable figures to try and drive down my price. Can I just tell you how ridiculous this…
OPERATOR: Oh, wait! We just made a change to our algorithm, which may affect the value of your company. Nope, that didn’t help. Now our “Stocks-timate” says you’re worth $40 million less.
ZILLOW: This is crazy. I’ve watched how you value IPOs for five years now, and you’re always off base when it comes to prices.
OPERATOR: Hmm, so you’re questioning the usefulness of our service?
ZILLOW: That’s exactly what I’m doing!
OPERATOR: OK Zillow, I’m going to put you on hold for the next five minutes so you can think about the irony.
RYSSDAL: The always fabulous Millie Jefferson and John Haas had the starring roles today.