Compass CEO hails IPO as a fundraising event amid ‘challenging’ market – ClearTips

While many tech companies are choosing to delay their IPOs due to less-than-enthusiastic market demand for their shares, real estate tech company Compass has forged ahead and gone public today. After lowering its stock price to $ 18 last night, at the low end of a lower IPO price range, Compass shares closed the day down 12% to the equivalent of $ 20.15.

ClearTips meets with the CEO and founder of Compass Robert ruffin Talking about the sudden start of your company in the market for technology and tech-enabled debuts.

Whether Compass is a tech company or a real estate brokerage, Ruffin – who raised comparisons to himself – is mindful that companies like Amazon or Tesla are not the only thing. Amazon is a logistics company, an e-commerce company, a cloud-computing business and a media concern at the same time. Price That.

The rationale for Compass’s 25 million shares – a paltry sum – gross sales of $ 450 million over its IPO value was quite good. The CEO said that, his company was aiming for a public offering.

Not about the IPO as a destination about to spoil the general CEO line, but only one stop on a long journey at that junction, Refkin argued that putting nine figures of capital into his company was his The objective was, not a particular value or resulting valuation.

This may sound simple, but as Kalatura and Intermedia Cloud Communications have pushed past their IPOs, it is a bit daring. Nevertheless, if financing was the major objective, Compass achieved success in its debut. Even during its first day of trading it was rewarded with a neat little bump in value.

Refkin confirmed ClearTips, which we have been reporting recently, i.e. that the IPO market has deteriorated in recent weeks. He described it as “challenging”.

So why go public now when there is so much capital available for private companies?

Refkin cited some numbers, but considered his idea to be the “right team” and the “right result”. When the compass reports the first set of public income, we will get a little more later.

For now, this is a company that is expected to have stormy seas from us after a blister in the first few months of the year for an IPO.

And because I would have brought him along if I had ever taken a company, here the founder and CEO of the company would have been with his mother:

Image Credit: compass

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