Compass is a technology and real estate company of America. Founded in 2012, the company is headquartered in New York City. Companies provide software to real estate agents to eliminate busy jobs and help them become more efficient. Compass is said to be the first company to build an exclusive mobile app for real estate agents. Kompas has current valuation up from USD $ 2.2 billion.
The company operates in 11 US markets including New York, Boston, Washington D.C., South Florida, San Francisco, Chicago, Los Angeles, Aspen, Hamptons, Santa Barbara and Newport Beach.
Video Compass Inc.
Incorporation & amp; Funding
The company was founded by businessman Ori Allon (A.K.A "The Coat") and Robert Reffkin. Allon has previously sold the company to Google and Twitter. Reffkin previously served as Chief of Staff for President Goldman Sachs and worked at The White House.
Kompas has raised a total of $ 775 million from investors such as Founder's Fund, Wellington Management and Institutional Venture Partners, Fidelity Investments and Softbank Vision Fund. Kompas was named the Big Business of the Year by the Manhattan Chamber of Commerce in 2015.
Maps Compass Inc.
History
The compass was originally established as an Urban Compass by the end of 2012. The company raised $ 8 million from Founding Fund, Thrive Capital, Goldman Sachs, as well as several individual investors including American Express CEO Kenneth Chenault, and CEO ZocDoc Cyrus Massoumi. Initial business models employ full-time brokers, which platform users can schedule appointments online with after searching the list on a company desktop or mobile app. The company openly debuted at an event in May 2013, where New York City Mayor Michael Bloomberg helped celebrate the launch. The company initially only focus on leasing.
In September 2013, the company generated a $ 20 million Series A funding round, with a reported valuation of $ 150 million. Investors including Advance Publications, Salesforce.com CEOs, Marc Benioff, and.406 Ventures are all invested in Kompas at this stage.
In early 2014, Compass announced that it would enter the business of real estate sales and changes in their overall business model, contracting independent real estate agents and taking commission deductions. In July 2014, Kompas increased its Series B funding round of $ 40 million, this time on a $ 360 million rating by Bloomberg. Shortly thereafter, Kompas signed a 25,000 square foot lease at 90 5th Avenue. The company also employs Leonard Steinberg, a top-class real estate broker, from Douglas Elliman to serve as its president. Leonard Steinberg has been named as the agent with the highest sales volume in 2016 by Real Trends. The company reported to have 125 agents and 70 staff at present.
In September 2015, Kompas increased its Series C funding round of $ 50 million in a reported valuation of $ 800 million. The investment is led by Institutional Venture Partners. The company also opened offices in Brooklyn, South Florida, Boston and The Hamptons.
In August 2016, Kompas increased Series D funding by $ 75 million, led by Wellington Management, which brings its valuation to north $ 1B. The company also launched a new mobile app that offers real-time data in the real estate market. At the beginning of the year, the company expanded to Aspen with the acquisition of Shane Aspen Real Estate as well as Los Angeles. The report also mentions the expansion of Kompas to Santa Barbara and San Francisco as well as several other small sub-markets from their other major metro areas.
Throughout 2017, Kompas hired several new executives for its leadership team, including Maelle Gavet, former Priceline Group executive, as Chief Operating Officer; Madan Nagaldinne, former Facebook and Amazon executive as Chief People Officer; and Craig Anderson, former Flywheel executive as Chief Financial Officer.
In November 2017, Compass announced $ 100M E Series of Investments by Fidelity Investments, followed by December 7, 2017 announcement of $ 450M investment by Softbank Vision Fund, which last brought the company valuation to $ 2.2B. The compass was also extended to Chicago in late November, signing the city's number one real estate team. In addition, Kompas announced its aggressive expansion plans to 9 other cities.
References
Source of the article : Wikipedia
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