Wheels of fortune: Industry players are rethinking what a residential brokerage is worth
Mergers, acquisitions and funding rounds are on the rise
From the September issue: When the venture-backed brokerage Compass secured a cash infusion of $75 million last month, the response from industry rivals was fast and furious.
The valuation being bandied about — more than $1 billion — did little to silence critics who claimed Compass’ math was lofty enough if it was deeming itself a tech startup, but downright artificial for a residential real estate brokerage. [more]