Sign up to receive 5 free days of our daily summary for tech news.

Subscribe today for just $10/month for your first 3 months to access daily conference calls during the week of the Uber IPO. 

Venture Capital Startups

SoftBank-Backed Compass on M&A Spree of Old-School Real Estate Brokerages

The SoftBank money that’s washed over the tech industry also is funding a significant consolidation among local real estate brokerages by one of its portfolio companies, Compass. On Tuesday Compass bought San Francisco firm Pacific Union, the fifth-largest residential real estate firm in the country just weeks after buying another prominent local firm, Paragon, according to the San Francisco Chronicle. Compass, valued on paper at $2.2 billion, has bought nine brokerage firms this year in the U.S., according to the Real Deal.

Compass, which has said it pulled in more than $350 million in revenue last year, still has to convince plenty of skeptics. One of the questions it faces is whether whether its fundraising and M&A growth will translate into a business with real tech value.

0 Subscriber comments

Sign up for our weekly newsletter and 5 complimentary days of our daily tech news roundup.

Already a subscriber? Log in here