WeWork’s Largest Backer Investing $450M In Brokerage And Tech Startup

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In one of the largest real estate tech investments to date, Japanese telecom company SoftBank will invest $450M in real estate sales and rental platform Compass, pushing its valuation to $2.2B.

The latest investment brings the New York-based startup to $775M in total investor capital. Compass will use the money to support part of its plan to expand nationally and reach 20% market share in 20 major markets by 2020, The Real Deal reports.

In one of the largest real estate tech investments to date, Japanese telecom company SoftBank will invest $450M in real estate sales and rental platform Compass, pushing its valuation to $2.2B.

The latest investment brings the New York-based startup to $775M in total investor capital. Compass will use the money to support part of its plan to expand nationally and reach 20% market share in 20 major markets by 2020, The Real Deal reports.

The capital injection comes less than a month after Compass raised $100M in a funding round led by Fidelity. As a result of SoftBank's investment, Compass has officially surpassed rival Redfin, which has a market cap of approximately $2B, in value. SoftBank also recently invested $4.4B into co-working giant WeWork. Of that capital, $3B went toward new and existing WeWork shares while the remaining $1.4B will go toward WeWork’s expansion into Asia. The latter will be split into three separate companies, WeWork China, WeWork Japan and WeWork Pacific.

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Compass is a licensed real estate broker (01991628) in the State of California and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.