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.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.