Compass Files Prospectus for IPO with Securities & Exchange Commission

March 2, 2021
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Real estate brokerage giant, Compass, has filed the disclosure of its IPO with the Securities & Exchange Commission. The filing reported that the company saw growth amidst the struggles brought on by the COVID crisis in 2020. In fact, Compass claims its revenue spiked 56%. Specifically, its revenue hit $3.7 billion, but the brokerage saw an annual loss of $270 million. Still an improvement of its 2019 numbers. 

In 2020, Compass laid off 15% of its staff in response to the beginning of the loss it saw during the pandemic. However, with revenue up, Co-Founder Robert Refkin has high hopes for the coming year:

“We have accomplished a great deal in our first eight years. But I assure you: we are just getting started.”

With backing from SoftBank, Compass has held aggressive initiatives to target agents at rival companies and its valuation has jumped to $4.6 billion following a $370 million funding round in 2019. With the looming IPO, Compass is expected to hit an even higher valuation. 

With this IPO, Compass will join a number of other successful startups within the real estate tech sector that have gone public within the last year, including Airbnb, Opendoor, and Snowflake.

March 2, 2021
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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