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Compass finds a new home amidst IPO tech waveINTL

Compass finds a new home amidst IPO tech wave

Working from home combined with low mortgage rates have made homebuying a hot trend in these times and real-estate companies did not stand by and watch.

This week, Compass, a New York-based, tech-enabled real estate platform, confidentially filed to go public.

Compass raised about USD 1.52b in funding from investors including the SoftBank Vision Fund and IVP and it was last valued at USD 6.4b, according to Crunchbase.

why it matters
The filing comes after housing prices kept rising amidst the COVID-19 pandemic. Recently, other companies in the space, such as the online real estate company Opendoor (OPEN), which recently went public, also seem to be riding this wave.