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SouFun Holdings Limited (SFUN) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
SouFun Holdings Limited (NYSE:SFUN) runs the largest real estate web advertising portal in China in terms of unique visitors and page views in 2009. In addition, they are also the leader for home furnishing and home improvement in terms of unique visitors.[1] According to an independent report done by CR-Neilsen, a market research firm, SouFun's website by the same name held 46.3% of the revenue in the web real estate advertising industry. The report recorded that in 2009, SouFun had approximately 9.8M unique visitors to their website per week.[2]
SouFun makes money in a series of ways. It offers marketing services by selling ad space on its website. This allows land developers, real estate agencies, home improvement companies and others to reach a captive audience. Next, it offers special listing options. These special listings go beyond a standard post and allow customization. Finally, SouFun offers a series of other services such as subscription to its database, research reports, and other side products based on the information SouFun owns.[1] SouFun expects that the real estate market will continue to grow rapidly as the rise of China's middle class continues.[3] In addition, as more Chinese consumers gain access to the internet, SouFun expects that they will continue to see a substantial rise in their site traffic.[4]
The company's initial public offering of stock on the NYSE and occurred on September 16, 2010. Its initial price range was $40.50-$42.50, but the stock priced at the high end at $42.50. The company sold 2.9M ADS shares and raised $123.25M. The lead underwriters of the deal were Deutsche Bank AG (DB) and Goldman Sachs Group (GS).[5]
SouFun's revenue has increased by 119% from 2007 to 2009, or $58M to $127M. On top of this, net income has increased more rapidly than revenue. In 2007 they recorded $12M and in 2009 they recorded $53M, or a 342% increase.[6]
References
- ↑ 1.0 1.1 SFUN F-1/A 2010 "Overview" pg 1
- ↑ SFUN F-1/A 2010 "Overview" pg 2
- ↑ SFUN F-1/A 2010 "China Real Estate and Home Furnishing and Improvement Market" pg 3
- ↑ SFUN F-1/A 2010 "Online Advertising Market in China" pg 3
- ↑ Renaissance Capital - IPO "SouFun Holdings prices IPO at $42.50, the high end of the range" 17 Sept 2010
- ↑ SFUN F-1/A 2010 "SUMMARY CONSOLIDATED FINANCIAL DATA" pg 10
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