Reckless or Brilliant? Trulia Files For IPO Under JOBS ACT

Found via @HowardSchilit.

What’s new, America? We are about to witness a major tectonic shift in the world of finance. It’s happening beneath our collective feet and it will change the world as we know it.

What is it? The new and controversial stipulations of the JOBS Act, signed by President Obama in April, are about to be tested by an IPO filling by San Francisco based real estate search service Trulia.

In an effort to make it easier for companies under $1 billion in revenues to go public and obtain critical cash for continued growth, the JOBS Act allows these midsized companies to circumvent the traditional filing process through the SEC.

This means Trulia is able to quietly file for its IPO without providing an S-1 for the public to review until 21 days prior to a marketing road show.