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Redfin Corp

Zillow, Redfin Antitrust Lawsuit: States Accuse Scheme to Stop Competition

by Priya Shah – Business Editor October 1, 2025

written by Priya Shah – Business Editor

state⁤ Attorneys General Sue Zillow and Redfin Over Alleged ‌Rental Market Scheme

New York, Arizona, Connecticut, Washington, and Virginia ⁤Attorneys General have jointly filed a lawsuit against ‌Zillow and⁤ Redfin, accusing the companies of anti-competitive practices in the online ⁢housing⁣ rental market. The lawsuit stems from a February agreement ‍where zillow reportedly paid Redfin $100 million to discontinue its apartment rental advertising business and transfer its clients to Zillow.

According to a news release from New ⁣York Attorney General ⁤Letitia james’ office, the ⁣agreement was “an end run around competition” designed to shield Zillow from direct competition with Redfin ⁢for multifamily⁣ building advertising customers. the suit alleges violations of federal antitrust⁤ laws and potential harm to renters through reduced options and ⁣potentially increased advertising costs. It further claims Redfin‌ laid ⁣off ⁣employees and then collaborated with Zillow to rehire some of them.

The Attorneys‍ General are seeking an injunction ‌to ‍halt the alleged scheme and are proposing a potential restructuring of the businesses to‍ foster ‍competition.

Zillow and⁣ Redfin, along‍ with CoStar (owner of Apartments.com), collectively control 85% ‍of the ⁢market revenue in the online rental listing space, according to ⁤James’ office.

Redfin maintains its innocence, ⁣stating in ⁤a statement that the partnership with ‌Zillow⁣ has broadened access to rental listings for visitors ⁢to Redfin.com and increased renter⁢ reach for advertising customers. The company explained that by the end of 2024, maintaining its ⁢rental sales force was no‍ longer financially⁣ viable and the⁢ partnership ‍allowed for investment‍ in rental-search innovations on its website.

Zillow also defended the‌ partnership, asserting it is “pro-competitive and pro-consumer” by connecting property managers ⁣with more ‍potential renters.

Following⁣ the announcement,⁣ shares of Zillow and ⁤Redfin’s parent company, Rocket companies, initially declined in trading, continuing a downward trend that began Tuesday after the Federal Trade commission ⁢(FTC) filed a similar lawsuit alleging an antitrust⁤ violation. Both Zillow and Redfin ⁢have disputed the FTC’s allegations and reaffirmed their confidence in the partnership.

October 1, 2025 0 comments

World

LA Luxury Real Estate Sees Surge, Driven by High-Profile Sales

by Priya Shah – Business Editor July 28, 2025

written by Priya Shah – Business Editor

Luxury Real Estate Market Sees High-Value Transactions in July 2025

The luxury real estate sector experienced meaningful activity in July 2025, with several high-profile properties changing hands for tens of millions of dollars. These transactions highlight continued demand for premium residences in sought-after locations across the United States.

Among the notable sales, a property located at 690 Island Drive in Palm Beach, Florida, commanded a price of $33 million. In California, the market saw robust activity, with 1120 Wallace ridge in Beverly Hills, CA 90210, selling for $32 million. Another Beverly Hills address, 1414 Donhill Drive, also achieved a $32 million sale price. Los Angeles contributed to the high-value market with the sale of 750 Lausanne Road, CA 90077, for $32 million. further north, Atherton, California, recorded a sale at 96 Ridge View Drive for $31.8 million.

these sales underscore the enduring appeal of prime real estate in exclusive enclaves,reflecting sustained investor and buyer interest in properties offering significant value and prestige. The market for ultra-luxury homes remains a dynamic segment, influenced by economic conditions and lifestyle preferences.

July 28, 2025 0 comments

World

Opendoor Stock Soars on Hedge Fund Manager’s Bold Prediction

by Priya Shah – Business Editor July 20, 2025

written by Priya Shah – Business Editor

Analyst Projects Opendoor Valuation to Soar, Citing Market Position and Growth Potential

an analyst has projected that Opendoor’s stock could reach $82 per share, a notable increase that would value the company at approximately $60 billion. This projection is based on the company’s potential to achieve multiples similar to those of industry peers like Zillow and Carvana,which currently trade at 4 to 7 times forward revenue. Opendoor’s current forward price-to-sales ratio is considerably lower, under 1.

This optimistic outlook comes as competitors Zillow and Redfin have exited the instant-buying home market. This strategic shift leaves Opendoor with minimal competition in offering homeowners a streamlined online cash sale process, bypassing traditional, lengthy sales and closing procedures.

The analyst’s model anticipates that opendoor’s revenue growth and expanding market share will pave the way for sustained profitability.This, in turn, is expected to drive investor sentiment and lead to a re-evaluation of the company’s market multiple. The analyst specifically cited Carvana’s trajectory as a benchmark, suggesting that Opendoor can similarly demonstrate a permanent shift towards profitability, thereby justifying a higher valuation.

The analyst, who has been actively sharing insights on the social media platform X, recently detailed a personal challenge where 99.5% of his assets under management (AUM) disappeared in 2022 after his primary investor withdrew. He described this period as a near shutdown of his fund, even with encouragement from his wife and accountant to do so. He is now leveraging his recent social media engagement to attract investment, while also transparently acknowledging the inherent risks involved. He emphasized that his reputation is paramount and contingent on his ability to consistently identify strong investment opportunities.

July 20, 2025 0 comments