Rocket Companies Completes Acquisition of Redfin
Michimich.com/10302025

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DETROIT and SEATTLE, July 1, 2025 ~ Rocket Companies, a Detroit-based homeownership platform, has recently announced the completion of its acquisition of Redfin. This merger brings together the most-visited real estate brokerage website with America's largest mortgage lender, creating a powerful force in the real estate industry.

According to Rocket Companies CEO Varun Krishna, this acquisition is a perfect fit for their vision of what the homeownership experience should be. He shared his personal experience with Redfin, stating that he has used the platform every day for the past 20 years and it completely changed his perspective on real estate. He also praised Redfin's team for their focus on simplicity in building a product experience.

In addition to the merger, Rocket Companies and Redfin have also introduced a new program called Rocket Preferred Pricing. This program offers clients who finance their home through Rocket Mortgage and purchase a home listed by a Redfin agent or with their help, a one percentage point reduction in their interest rate for the first year of their loan or a lender credit at closing of up to $6,000. This exclusive pricing is available for qualified clients purchasing homes with conventional, FHA or VA loans.

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Both companies have plans to launch additional products and services for homebuyers, real estate agents and mortgage brokers in the near future. As part of this collaboration, Redfin has also adopted a refreshed brand identity as "Redfin Powered by Rocket" to further unify the homebuying experience.

Redfin CEO Glenn Kelman expressed his excitement about this partnership and stated that it aims to bridge the gap between the American Dream of homeownership and reality. He believes that by combining Rocket's financing options with Redfin's user-friendly platform, more people will be able to achieve their dream of owning a home.

To take advantage of this new program and search for your dream home, visit Redfin.com. The company encourages interested individuals to explore exclusive Rocket Preferred Pricing on their website.

The acquisition was advised by Morgan Stanley & Co. LLC as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel for Rocket Companies. Goldman Sachs & Co LLC acted as financial advisor and Fenwick & West LLP acted as legal counsel for Redfin.

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In addition to the merger, Rocket Companies has also simplified its organizational and capital structure. On June 30, 2025, the company collapsed its "Up-C" structure, eliminated its high-vote/low-vote structure and reduced its classes of common stock from four to two. This move aims to simplify the company's structure, improve equity liquidity, and create a clearer corporate profile. Public stockholders will continue to hold their existing common stock as Class A shares while Dan Gilbert and other Rock Holdings Inc. (RHI) stockholders will hold common stock in Rocket Companies directly as Class L shares.

Overall, this acquisition and restructuring are expected to have a positive impact on Rocket Companies' operations and growth in the real estate market. With the combination of Redfin's user-friendly platform and Rocket's financing options, more people will have access to achieving their dream of homeownership.
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