SoftBank-backed Compass targets $10 billion valuation in U.S. IPO

SoftBank Group Corp-backed real estate brokerage firm Compass Inc said on Tuesday it is aiming for a valuation of up to $10 billion in its initial public offering in the United States…

The firm aims to raise up to $936 million in the IPO, selling 36 million Class A shares priced between $23 and $26 per share, it said in a filing.

Compass, which runs an integrated software platform that serves real estate agents in the residential market, has seen a surge in online home transactions during the COVID-19 pandemic.

Founded in 2012 by former Twitter Inc engineer Ori Allon and former Goldman Sachs executive Robert Reffkin, Compass covers 46 metropolitan statistical areas in the United States and works with over 19,000 agents.

It generates revenue from commissions paid for transactions on the platform.

The company has raised…

Continue reading at REUTERS.COM

 

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