NEW YORK, NY, Jul 31, 2012 (MARKETWIRE via COMTEX) -- It was recently revealed that Trulia -- an online real estate site -- has filed for a confidential IPO with the Securities and Exchange Commission. Taking advantage of the new provisions listed in the Jumpstart Our Business Startups (JOBS) Act, Trulia was granted permission to submit their IPO privately, and given similar permission to withdraw it without revealing private information.
Trulia intended on keeping their IPO private, but Reuters reported information regarding the IPO on July 26th. It turns out that Trulia is being advised by none other than JP Morgan Chase & Deutsche Bank. Representatives from Trulia did not confirm nor deny the report.
Because Trulia currently earns less than one billion dollars in revenue, they were able to bypass regulations and file their IPO privately. This would not have been possible if not for the recently instituted JOBS Act. Approximately, 30 other emerging companies have taken advantage of this stipulation. Trulia's decision to go public exhibits the reassurance of the technology sector, precipitated by Facebook's lackluster IPO last May.
For instance, Profile Defenders -- a well-renowned online reputation management firm based in NYC, Washington D.C. and Fort Lauderdale -- is being hailed as the next big IPO within the tech field. Representing the rapidly growing Online Reputation Management sector, Profile Defenders was the first company to provide services designed to repair or establish the reputation of an individual, fortune 500 company or small business owner. The professionals at Profile Defenders are technological geniuses that have somehow managed to figure out Google's ranking algorithms. Thus, its filing for an IPO will undoubtedly renew the confidence of other companies considering going public.