|Bid||0.00 x 800|
|Ask||0.00 x 1100|
|Day's Range||119.79 - 121.69|
|52 Week Range||67.00 - 138.13|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||29.69|
|Forward Dividend & Yield||1.72 (1.43%)|
|Ex-Dividend Date||Oct 08, 2020|
|1y Target Est||N/A|
(Bloomberg) -- Compass, a SoftBank-backed company that’s among the largest real estate brokerages in the U.S., has selected underwriters for a potential initial public offering, according to a person with knowledge of the matter.The New York-based startup is working with Goldman Sachs Group Inc. and Morgan Stanley ahead of a listing that’s slated for 2021, said the person, who requested anonymity because the information isn’t public.Representatives for Compass and Goldman declined to comment. A spokesman for Morgan Stanley didn’t immediately have a comment.Compass was founded in 2012 by Ori Allon and Robert Reffkin, a Goldman alum who was once Gary Cohn’s chief of staff at the bank. It positions itself as a real estate firm that uses technology to give its agents an advantage over rivals. The company has used capital from venture investors to expand by acquiring smaller brokerages across the U.S.Low mortgage rates have fueled a housing rally in the U.S. as Americans seek more space to spread out in the pandemic. That’s boosted residential real estate companies, including Zillow Group Inc. and Opendoor, another SoftBank-backed company. Realogy Holdings Corp., which owns Compass competitor Corcoran Group, has seen its shares rally about 28% this year.In addition to SoftBank, which participated in a $370 million funding round last year that valued Compass at $6.4 billion, investors include Goldman Sachs, Fidelity, Wellington Management, Founders Fund, Dragoneer Investment Group and Canada Pension Plan Investment Board, according to its website.Former American Express Chief Executive Officer Ken Chenault and Salesforce.com CEO Marc Benioff are also investors.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
PayPal CEO Daniel Schulman says capitalism needs a tune up. And the pandemic makes change even more urgent.
Wall Street seemed super-excited as the Dow Jones reached 30,000 for the first time in history on Nov 24.