Inman Connect
Compass spent much of 2018 and 2019 growing through headline-grabbing acquisitions, the details of which had been scarce with the company’s status as a privately held firm. But as the company prepares to go public and lays its financials bare, for the first time, it’s revealing what it paid for some of its biggest acquisitions.
“We will continue to evaluate potential acquisitions in the real estate technology ecosystem that can bolster the value of our fully integrated platform and accelerate initiatives in our product roadmap,” the company wrote in the filing. “For example, in 2020 we acquired Modus, a title and escrow software company, expanding our capabilities into a critical component of the transaction.
Founded in 2010, KVS Title has 90 employees across six offices in the Washington, D.C. metro area. Its attorneys have completed 70,000 settlements, and it serves clients in California, Florida, Washington state, Maryland, Virginia and Washington, D.C., according to its website.
Compass is the third-largest brokerage based on sales volume, having sold $91.3 billion worth of real estate in 2019, according to data firm Real Trends. It currently has 18,000 agents nationwide.
In January, Compass filed confidential plans to go public. It was last valued at $6.4 billion, after a July 2019 funding round.
Thanks to the U.S. housing market’s hot year, Compass reported record revenue from June to October 2020, according to news reports, but it’s not yet profitable on a companywide basis.
Compass Acquires KVS Title Insurance therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
Lila Delman joins national independent real estate brokerage Compass
LILA DELMAN Real Estate has joined Compass, a national independent brokerage. NARRAGANSETT – Lila Delman Real Estate, a well-known Rhode Island-based luxury real estate company, has partnered with Compass, a national independent brokerage that will expand its national and international reach. According to the announcement, Narragansett-based Lila Delman will retain its name and branding, while adding the resources and technology of Compass, a brokerage that has…
Register to keep reading or subscribe today and receive unlimited access.