“As Compass tries to make the financial case for its technology-juiced business model — with the eventual goal of taking the company public — it needs to prove it’s more than just flashy packaging.”

Marker Editors
Marker
Published in
1 min readJan 12, 2021

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Illustration: Maria Chimishkyan

Last month, Patrick Sisson wrote in Marker that Compass is building a residential brokerage with the valuation of a tech giant. For months, the splashy real estate startup backed by SoftBank sparked much speculation about when the company would go public amid a pandemic-induced booming luxury real estate market. The wait is now over: The company filed confidentially to go public on Monday and submitted a draft registration statement with the U.S. Securities and Exchange Commission. The size of the offering has not yet been reported, but Compass was last valued at $6.4 billion in July 2019 when it raised its Series G—a whopping 10 times that of Realogy, the giant conglomerate of brokerages including Sotheby’s and Coldwell Banker.

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