Rocket Agrees to Acquire Redfin for $1.75 Billion

Rocket Companies has entered an agreement with the brokerage Redfin for $1.75 billion after gaining approval from the Boards of Directors of both Rocket Companies and Redfin.

The deal, expected to close in the second half of 2025, will bring together the United States' most-visited real estate brokerage website with its largest mortgage lender.

Under the terms of the agreement, each share of Redfin common stock will be exchanged for a fixed ratio of 0.7926 shares of Rocket Companies Class A common stock, which represents a premium of 63% over the volume weighted average price (VWAP) of Redfin’s common stock for the 30 days ending March 7, 2025.

Upon completion of the transaction, current Rocket Companies shareholders will own approximately 95% of the combined company on a fully diluted basis, while Redfin shareholders will own approximately 5%.

Rocket is a fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Rocket Homes, Rocket Close, Rocket Money and Rocket Loans.

Varun Krishna, CEO at Rocket, said:

“Rocket and Redfin have a unified vision of a better way to buy and sell homes. Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers."

Redfin is a technology-powered real estate company offering with brokerage, rentals, lending, and title insurance services. The company serves approximately 100 markets across the U.S. and Canada and employ over 4,000 people.

Glenn Kelman, CEO at Redfin, said:

Rocket and Redfin’s approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical. We want a customer to be able to check her phone to find out what she can afford, see which homes are just right for her, schedule a tour with a local, expert Redfin agent, and get pre-qualified for a loan, all in a matter of minutes."

Rocket Companies launched rocket.com, a home search portal, in January of this year.