Linkhome Holdings wants artificial intelligence to help buyers find and buy homes, and plans to raise $12.1 million in an initial public offering to help them do it.
The Irvine-based startup led by Bill Qin registered with the Securities and Exchange Commission last month, with plans to raise the money in an IPO at an undisclosed date, the Orange County Business Journal reported.
Linkhome told the SEC it “is presently focused on serving the Southern California market, and, over time, intends to establish a nationwide marketing network covering multiple states.”
Linkhome has 10 employees in Irvine, along with 12 agent contractors. It plans to list on the Nasdaq under the ticker symbol LHAI.
Linkhome, founded by Qin in 2021, says it expects to rake in between $8 million and $10 million this year, compared to $2 million in revenue last year.
“We focus on developing forward-looking AI home search technology combined with financial innovation to create a better real estate platform,” Qin told the Business Journal. “This sets us apart from other platforms by offering a more advanced and intuitive home-searching experience.”
The firm’s platform has three main functions, he said, employing AI to provide highly accurate real estate models for finding homes. It also helps buyers bid for desired properties with all-cash offers.
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The platform, only available in California, allows homeowners to directly sell their properties to Linkhome for a quick and efficient sale.
Since inception in 2021, the platform has facilitated an aggregate gross total value of more than $150 million of agent brokerage transactions as of March 31.
— Dana Bartholomew