Trulia should be the poster child of manipulation and a WS scam. The underwriters of the follow-on secondary all raised their opinions and estimates either before or after the offering. Secondary inreased shares outstanding by 50%. What a scam.
The market-cap of Zillow is a joke, if you compare:
Business Outlook of Zillow with 1,750 million market cap: Zillow says it expects first-quarter sales of $36 million to $37 million, better than the $35.4 million analysts had been expecting, according to Thomson Reuters. That are about 160 million in 2013.
Fiscal 2013 Financial Guidance of Local Corp with 36 million market cap:
Revenue - The company expects 2013 revenue of between $93 million and $95 million, which at the mid-point, is an increase of 12 percent, over the fourth quarter 2012 exit run rate.
Adjusted Net Income – Adjusted Net Income for 2013 is expected to be at least $5 million.
Zillow has with 160 million revenues in 2013 against the 94 million of Local Corp only the 1.7-fold revenues, but with 1,890 million market-cap against the idiotic low 38 million of Local Corp the 50-fold market-cap.