The online real estate brokerage Compass has confidentially submitted a draft statement for a public listing to the US Securities and Exchange Commission (SEC), paving the way for a soon public listing. The company has in recent years been regarded as an IPO candidate, being an eight-year-old company backed by a big $1.6 billion in venture funding.

Compass is an online real estate brokerage that has seen huge success. The company operates in more than 165 US cities, with 18,000+ real estate agents that handled over $91 billion in real estate transactions in 2019 alone, it claims.

Compass is one of the biggest real estate technology companies out there. It’s backed by $1.6 billion in venture funding from investors including SoftBank, Fidelity, IVP, Dragoneer Investment Group, and the Qatar Investment Authority.

An online real estate brokerage, Compass makes money primarily by taking a cut of the real estate sales facilitated through its platform. The company has a big business that has attracted investors enough to bestow it with a $6.4 billion valuation from its last funding round.

A public listing for Compass would deliver an exit for the company’s investors and employees, possibly very huge monetary exits. As it’s confidentially filed for an IPO, it’s safe to say that a public listing could be expected in a few months’ time.

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