R
ocket Companies, a financial technology business and mortgage lender, is acquiring Redfin, a real estate brokerage, in an all-stock deal worth $1.75 billion. The companies announced the agreement on Monday, citing a shared vision of streamlining the home-buying process through innovative technology.

    According to Varun Krishna, CEO of Rocket, the partnership will integrate traditionally separate steps of the search and financing process, reducing costs and increasing value for American homebuyers. Redfin's tech-powered brokerage has over 2,200 agents, a database of 100 million properties, and one million active listings.

    The companies plan to leverage AI technology to enhance the home-buying experience, guiding customers through every step from search to sale. Glenn Kelman, CEO of Redfin, noted that this integration will enable customers to access all necessary services – including financing and equity accumulation – through a single platform.

    Kelman will remain at the helm of Redfin, reporting directly to Krishna after the acquisition is completed. The deal has been approved by both companies' boards of directors and is expected to close in the second or third quarter of 2025.