Redfin Corp. gave birth on Friday, and the baby (IPO) was showered with love from Wall Street.

Shares, trading on the Nasdaq Global Select Market under the ticker symbol RDFN, soared 45 percent, to $21.70.

Redfin, a real-estate company that utilizes online technology with traditional agents for buying and selling homes, priced its initial batch of shares at $15 Thursday night, higher than the company’s expected range, to achieve a valuation of $1.2 billion.

It had expected to command a price of $12 to $14 a share in its initial public offering.

Redfin uses a mobile app to do tasks like scheduling home tours and suggestng listings. Chief Executive Glenn Kelman compared Redfin’s home visualization platform with Google’s Street View, except inside a home.

Revenue in 2016 jumped 43 percent, to $267.2 million, from $187.3 million a year earlier.
The company’s net loss narrowed to $22.5 million from $30.2 million.

With wires