Seattle Metblogs » Redfin gets a haircut

Redfin gets a haircut

Posted By Dylan On October 13, 2008 @ 1:53 pm In Uncategorized | Comments Disabled

It’s bad out there for venture capital funded firms, as Sequoia Capital warned its funded companies the other day ^[1].

It’s far worse for the real estate market, as shown by plummeting prices and rising inventories in Seattle ^[2].

So if you’re a VC-funded startup focusing on real estate, it has to be hell times for you. And thus Redfin ^[3], which not only maps the collapse of real estate block by block in Seattle but also aims to cut the cost of buying a house through their underworked realtors, laid off 20% of its staff today ^[4].

The long winter is about to start for the Seattle economy. Get ready.

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URL to article: http://seattle.metblogs.com/2008/10/13/redfin-gets-a-haircut/

URLs in this post:

[1] Sequoia Capital warned its funded companies the other day: http://bits.blogs.nytimes.com/2008/10/10/rip-good-times-sequoia-capital-warns/

[2] plummeting prices and rising inventories in Seattle: http://seattlebubble.com/blog/2008/10/06/nwmls-inventory-level-sales-up-prices-down/

[3] Redfin: http://redfin.com

[4] laid off 20% of its staff today: http://www.wherearejohnandtodd.com/2008/10/redfin-cutting-20-percent-of-staff-739/

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