Redfin Corporation has agreed to sell $110 million of capital stock to Durable Capital Partners LP, consisting of $70 million of common stock at $15.61 per share and $40 million of convertible preferred stock.
“Durable’s Henry Ellenbogen has been leading investments in Redfin since 2013, when we were a private company and the market was recovering from the great financial crisis,” said Redfin CEO Glenn Kelman. “In chaotic times, he understands our long-term commitments to our culture and our technology, and why those commitments position us to take share in a housing market that is being transformed by this pandemic to be more virtual, convenient and efficient. We’re proud to be his partner.”
