$IPOB Launches as World Discovers Discount Real Estate Momo Gem
IPOB is about Chamath Palihapitiya's Social Capital in the low-cost real estate space. Strong management team with backgrounds at Trulia, TPG, Amazon, AirBnB, Square and Netflix. Revenue growth has been stellar as it went from $700 mln in 2017 to $1.8 bln in 2018 and $4.7 bln in 2019. It sold 18,799 homes in 2019, 4.4x above its largest competitor. TAM naturally is extremely large with 68% of American homeowners, 5 mln homes sold annually for a TAM of $1.6 trl a year.
Millennials are increasingly a bigger piece of the pie and will be comfortable with this online process.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.