Friday, July 10, 2009

Redfin: First Monthly Profit

Seattle-based online real estate broker Redfin revealed last night at its Naked Truth Panel that it earned its first monthly profits in June, although the firm did not disclose any other details of its finances. The announcement came at Olympic Structure Park, where Redfin had pulled together technology notables Michael Arrington, Damon Darlin, Fred Wilson, Fred Vogelstein, Glenn Kelman, Ethan Lowry of Urbanspoon, Brad Jefferson of Animoto, and Jonathan Sposato of Picnik on an interactive panel. TechCrunch's Arrington, who was on the panel with Kelman, reports that Redfin's run rate is around $15M, with 2007 revenues of $5M and 2006 revenues of $1M.