EXp Realty’s entry into Nasdaq was a billion-dollar day.
The cloud-based brokerage founded in 2009 crossed $1 billion in market cap on Monday, the same day it started trading on Nasdaq, according to Inman. Its market cap at the end of the day was at $1.044 billion, making it already more valuable than national franchise brokerage Re/Max, which has a market cap of $944 million.
CEO Glenn Sanford founded EXp Realty in 2009, which includes a virtual world where avatars of brokers can network and attend classes. Agents earn stock in the company when they make contributions such as closing deals or recruiting new agents, and the company currently exists in 49 states, Washington, D.C. and Canada. [Inman] – Eddie Small