Boston Real Estate for Sale

Boston Real Estate for Sale 

Loading...

Compass, the real estate brokerage with more than 19,000 agents on its platform, filed its IPO prospectus with the Securities & Exchange Commission on Monday. The filing showed a $270 million annual loss. That was an improvement over 2019, in which the business posted a net loss of $388 million.

“I started Compass because of my mom, Ruth,” co-founder Robert Reffkin wrote in the filing. “As a single mother who provided for our little family entirely on her own, she embodies the entrepreneurial spirit.”

Fueled by $1.5 billion in funding, including from WeWork backer SoftBank, the company expanded rapidly by aggressively targeting agents at rival outfits. Compass’ valuation has grown in turn, to a reported $6.4 billion following a $370 million funding round in 2019. That number may rise higher following the IPO.

To date, Compass’ agents have closed over $300 billion worth of deals from more than 275,000 homebuyers and sellers. The company boasts 4% market share across the U.S., making it the largest independent brokerage as measured by gross transaction volume, it says.

 

Boston Real Estate for Sale 

Loading...

Call Now