In light of the news that Redfin has secured another $12 million in venture capital and also is expanding its reach to Washington, D.C., Dalton’s Arizona Homes proudly announces that we have raised $8.25 in capital and will be extending our reach as well.
According to John Cook at the Seattle Post-Intelligencer, Redfin will be devoting the bulk of the money to software developers and engineers. Which makes sense, since the real estate business truly is more about a slick website than the service you provide. No one will notice when you take two weeks off from accepting listings if the page telling them you won’t list their home downloads quickly.
As for me, I’m leaning heavily toward using the $8.25 in raised capital to increase our visibility in Westbrook Village. There’s this really delicious burger at the Vistas Golf Course Restaurant, with cheese and green chiles … it’s making my mouth water.
With said burger resting in the stomach of our resident web developer (read: me) he ought to have the energy needed to finish some of the upgrades we’ve been planning for my main site for a while now. Assuming the kids allow him time to add them in between claims of severe summer boredom.
Okay, I do have one small confession. The $8.25 is less venture capital than the winnings from last night’s poker game. And unlike Redfin, I do anticipate another round of capital coming in unless the cards stop falling my way.
Actually, Glenn Kelman leaves himself an out in case more capital is needed, saying …
“We don’t think we are going to raise another round, unless we screw up,” said Kelman. “This is the amount of money that we felt we needed to safely get to profitability without having to go back to the bank.”
I dunno. I think the first $8 million would have led to profitability, but that’s just me. Hell, I could probably do it for $1 million.
[tags]Redfin, real estate marketing[/tags]