Compass bringing in new COO: sources

David Snider will continue to act as CFO for VC-backed brokerage

TRD LOS ANGELES /
Jan.January 04, 2017 02:00 PM

From the New York website: Compass is making a little more room in the C-suite.

The venture capital-backed residential brokerage is finalizing a new hire for chief operating officer, sources told The Real Deal. David Snider, the Bain & Co. alumnus who has acted as Compass’ CFO and COO for the past year, will move into an exclusively CFO role to make room for the new hire, they said.

Compass is in late-stage negotiations with an executive, sources familiar with the company said, and is expected to make an announcement in the next few weeks. The hire will also take on some of the more traditional responsibilities of a CEO, they said.

The change was announced to some senior staff at the company several weeks ago. But several Compass agents approached by TRD said they had not yet been informed.

Representatives for the firm, which is headed by CEO Robert Reffkin and executive chairman Ori Allon, declined to comment.

In August, Compass raised $75 million in a Series D round that valued the brokerage at north of $1 billion, making it the residential brokerage world’s first unicorn. In total, Compass has raised $210 million from investors, including Wellington Capital Management, Institutional Venture Partners and Thrive Capital.

The 1,200-agent firm has been aggressively expanding in Los Angeles and San Francisco in recent months. In July, Reffkin told TRD that going public was not part of the company’s near-term game plan.

“The luxury of our capital base is that we can think long-term,” he said.


Related Articles

arrow_forward_ios
Hiten Samtani, Sally Forster Jones, Santiago Arana, and Aaron Kirman

For top LA resi agents, it’s strictly posi vibes

For top LA resi agents, it’s strictly posi vibes
Hiten Samtani, Sally Forster Jones, Santiago Arana, and Aaron Kirman

Don’t miss LA’s top dealmakers on Monday’s TRD Talk

Don’t miss LA’s top dealmakers on Monday’s TRD Talk
Kofi Nartey (Credit: Rachel Murray/Getty Images)

Side Deal: Kofi Nartey bolts Compass for VC-backed rival

Side Deal: Kofi Nartey bolts Compass for VC-backed rival
Jamie Duran and Coldwell Bankers Beverly Hills office

Brokerages are recruiting. But they’re not spending

Brokerages are recruiting. But they’re not spending
Robert Reffkin (Credit: Brad Barket/Getty Images)

This is who Compass terminated in California

This is who Compass terminated in California
Cindy Ambuehl (Credit: Tommaso Boddi/Getty Images, and Hilton & Hyland)

Compass’ Cindy Ambuehl claims ex-assistant stole trade secrets to fuel rise in LA luxury real estate

Compass’ Cindy Ambuehl claims ex-assistant stole trade secrets to fuel rise in LA luxury real estate
(Credit: iStock)

For LA brokers, coronavirus means closed open houses and peak uncertainty

For LA brokers, coronavirus means closed open houses and peak uncertainty
Carl Gambino is leaving Westside Estate Agency for Compass

Carl Gambino jumps to Compass from Westside Estate Agency

Carl Gambino jumps to Compass from Westside Estate Agency
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...