Compass stepped closer to an IPO last week by tapping Goldman Sachs and Morgan Stanley as underwriters.
But the brokerage has been quietly laying the groundwork for a public offering for months by bulking up its board, filling holes in and rounding out its business by adding title and escrow services to drive profits.
Indeed, as Compass looks to go public, rivals are eager to catch a glimpse of its financials. For years they have questioned its valuation, alleging that Compass lacks groundbreaking technology to justify its unicorn status. I guess only time will tell