Summary
- Fathom Holdings has filed proposed terms for its $20 million IPO.
- The firm operates an online real estate brokerage service in the U.S.
- FTHM has grown revenue and agents on its platform, but its revenue model is ultra-low margin, which is difficult to get excited about.
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Quick Take
Fathom Holdings (FTHM) has filed to raise $20 million in an IPO of its common stock, according to an amended registration statement.
The company operates an online real estate brokerage service in the U.S.
FTHM has grown revenue but operates a very low margin business due to its high revenue share rates to entice agents to use its platform, so I'll sit this IPO out.
Company & Technology
Cary, North Carolina-based Fathom was founded to create an online platform for its real estate agents to facilitate the buying and selling of real estate via the Internet.
Management is headed by founder, Chairman and CEO Joshua Harley, who was previously founder and CEO of Texas Home Central.
Below is a brief overview video of the firm's approach:
