Compass, which runs an online marketplace for buying, selling, and renting real estate, closes up ~12% in its trading debut, after raising $450M in an IPO

Real estate technology company, Compass, closed up 12% in its trading debut after raising $450 million in an initial public offering (IPO), according to a report by TechCrunch. The company operates an online marketplace for buying, selling, and renting real estate. The platform is used by real estate agents, homebuyers and sellers, and landlords and tenants. The company was valued at $6.4 billion in the offering, which was led by Goldman Sachs and JPMorgan Chase. Compass CEO, Robert Reffkin, stated that the funds will be used to expand the company’s offerings and to invest in technology to improve the home buying and selling experience. The company’s listing is considered a sign of the growing interest in real estate technology companies and the potential of the online real estate market.
Compass, which runs an online marketplace for buying, selling, and renting real estate, closes up ~12% in its trading debut, after raising $450M in an IPO
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