SoftBank-backed residential brokerage Compass filed paperwork with the Securities and Exchanges Commission on Monday for an IPO.
Compass filed an S-1 document with the SEC, suggesting it would go public through a traditional offering. The document does not indicate how much money Compass plans to raise in a public offering, nor does it disclose price per share on common stock up for sale.
The brokerage, which has raised $1.5 billion in venture capital and achieved a valuation of $6.4 billion in July 2019, tapped Goldman Sachs and Morgan Stanley late last year to underwrite the IPO.
The Real Deal first reported news of the S-1 early Monday evening.
Founded in 2012 by Robert Reffkin and Ori Allon, Compass ended 2019 as the third-largest residential brokerage in the country, according to REAL Trends. It posted $91.2 billion in sales in 2019, double its figures from the year prior. But even with the gains, Compass lagged far behind Realogy – $176.3 billion in sales – and Berkshire Hathaway Homeservices of America, which has $135.9 billion in sales.
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