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Softbank invests $450 million in real estate tech company Compass

Berkeley Lovelace Jr.

Real estate technology firm Compass announced on Thursday it's getting an investment of $450 million from the SoftBank Vision Fund.The infusion from the $93 billion venture vehicle — whose backers include the Japanese conglomerate SoftBank and Saudi Arabia's sovereign wealth fund — brings Compass' total capital raise to $775 million.

Other Compass investors include Goldman Sachs

(NYSE: GS)

, outgoing American Express CEO Ken Chenault, Salesforce CEO Marc Benioff, and major property developer The LeFrak Organization, run by billionaire Richard LeFrak.

Robert Reffkin, co-founder and CEO at Compass, told CNBC shortly after the announcement that the company is much more than a real estate company because it's "powering the best of technology."

"Compass is on the path to be the largest owner of real estate data, globally, and the No. 1 real estate technology company in the world," Reffkin said on "

Squawk Box

."

"We have our own in-house technology team that's building an end-to-end platform for agents to run and manage every part of their business," he said. "Is Amazon

(NASDAQ: AMZN)

a store? Is Tesla

(NASDAQ: TSLA)

a car? I think that distinction is getting a little fuzzier."

Reffkin was chief of staff to

Gary Cohn

when Cohn was the No. 2 executive at Goldman. Cohn is currently a top economic advisor to President Donald Trump as director of the National Economic Council.

Real estate technology firm Compass announced on Thursday it's getting an investment of $450 million from the SoftBank Vision Fund.

The infusion from the $93 billion venture vehicle — whose backers include the Japanese conglomerate SoftBank and Saudi Arabia's sovereign wealth fund — brings Compass' total capital raise to $775 million.

Other Compass investors include Goldman Sachs

(NYSE: GS)

, outgoing American Express CEO Ken Chenault, Salesforce CEO Marc Benioff, and major property developer The LeFrak Organization, run by billionaire Richard LeFrak.

Robert Reffkin, co-founder and CEO at Compass, told CNBC shortly after the announcement that the company is much more than a real estate company because it's "powering the best of technology."

"Compass is on the path to be the largest owner of real estate data, globally, and the No. 1 real estate technology company in the world," Reffkin said on "

Squawk Box

."

"We have our own in-house technology team that's building an end-to-end platform for agents to run and manage every part of their business," he said. "Is Amazon

(NASDAQ: AMZN)

a store? Is Tesla

(NASDAQ: TSLA)

a car? I think that distinction is getting a little fuzzier."

Reffkin was chief of staff to

Gary Cohn

when Cohn was the No. 2 executive at Goldman. Cohn is currently a top economic advisor to President Donald Trump as director of the National Economic Council.



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