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Citigroup to Manage Zillow I.P.O.

Zillow Inc., a real estate data company backed by Legg Mason Capital Management, Benchmark Capital and PAR Capital Management – has hired Citigroup to manage its initial public offering, Reuters reported, citing a Bloomberg story. The exact timing of the IPO was not released. Zillow is based in Seattle.

(Reuters) – Real estate data company Zillow Inc has hired Citigroup (C.N) to manage its proposed initial public offering, Bloomberg reported citing sources familiar with the matter.

The exact timing of the IPO of the Seattle-based company, which operates websites like Zillow Mortgage Marketplaces and Zillow.com, was not immediately known, the agency said.

It said Zillow’s investors included Legg Mason Capital Management, Benchmark Capitaland PAR Capital Management. It added that Zillow was valued at around $400 million as of 2007.

Zillow and Citigroup could not be reached for comment.

(Reporting by Arup Roychoudhury; Editing by Hans Peters)