Trulia Gets No Free Pass, Says Cramer

NEW YORK (TheStreet) -- Lindsey Bell interviews Jim Cramer regarding Trulia's IPO. A full transcript appears below:

Lindsey Bell:
Trulia IPO today...it's popping. What's your thoughts?

Jim Cramer:
Tough call. The track record of companies that have not been making money, that have come public this year, is dismal -- but they've always given you a great gain. So I think you take it. I think Trulia's in a horserace with a bunch of companies...been a remarkable grower...increasing in Comscore. The real estate market is kind of like a porn market. We were making that joke. People look at websites. They want to see what their value is. These are very sticky sites. You tend to have to go through six or seven, if not eight, clicks in Trulia to find out what you want...sticky.

Advertisers like it but its competitor's Zillow, which I like, is teamed with Yahoo and Yahoo is just a powerful partner and my experience is that, when you have a company that is not making money, that is a basic social media/.com, all my views are colored by what happened at TheStreet when it became public...in other words, a lot of hoopla. Stock was bid up furiously but we didn't make any money and I'm scarred by that. I'm also scarred by the fact that my late friend, Mark Haines, always said no free passes...no free passes...and I think that's the case again, with Trulia. I can't give them a free pass.

Lindsey Bell:
So you stay away from this stuff.

Jim Cramer:
Sell it.

Lindsey Bell:
Okay. What about other social media?

Jim Cramer:
Don't care about those right now.

Lindsey Bell:
Okay.