Compass CEO: We Have People And Systems In Place To Go Public - Inman
executives, Eileen Murray, Pamela Thomas-Graham and one member to be named later this month. “Our business is really surging,” Reffkin said. “As a result, we don’t need to go public in order to raise capital”. “That said, we do have the people in place and the systems in place to go public when we would like.” The increase in revenue comes as Compass has seen a massive increase in demand in home purchases. Consumer traffic to Compass’ website is up 180 percent, according to Reffkin. The average search is also 19 percent longer, a future indicator, Reffkin added. Connect Now
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“We believe that the increased activity is going to persist throughout the rest of this year and into 2021,” Reffkin said. “People have never been so intimately aware of the inadequacies of their home and everyone wants more space.” The discussion takes place as Opendoor, a real estate startup that, like Compass, has accepted funding from the SoftBank Vision Fund, is reportedly in talks to go public with a blank-check company. Reffkin also reiterated his belief that New York City is not “dead,” as some have speculated. He also disagreed with the main premise of a letter sent to New York City Mayor Bill de Blasio by more than 100 of the city’s top business leaders. Reffkin was not one of the signees.
The letter, signed by leaders of companies including Warby Parker, Lyft, WeWork,
https://www.inman.com/2020/09/11/compass-ceo-we-have-people-and-systems-in-place-to-go-public/[10/6/2020 7:31:57 AM]
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