Startup now valued at $2.2B, sources say
From left: SoftBank’s Masayoshi Son, Robert Reffkin and Ori Allon (Credit: Getty Images and Instagram)
Compass — the startup brokerage and fundraising machine — said Thursday that SoftBank will invest $450 million in what the New York City-based agency claims to be the biggest investment in a real estate tech company to date.
The funding gives Compass a total of $775 million in investor capital. Just last month, it raised $100 million at a $1.8 billion valuation.
Sources said SoftBank’s investment values Compass at $2.2 billion, higher than tech-based Redfin, which made its public debut earlier this year and has a market cap just over $2 billion.
Compass will use the $450 million from the SoftBank Vision Fund to expand nationwide. This fall, CEO Robert Reffkin said the firm would have 20 percent market share in 20 major markets by 2020.
SoftBank is also a large backer of WeWork. It pledged to invest over $4 billion in the co-working company, which has a valuation of about $20 billion.
Posted on 12/06/2017 at 08:00 AM
Terms & Conditions and Privacy Policy
© Compass. All Rights Reserved. 2012 - 2016 • Made In NYC • DRE 01924066
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.