SoftBank is on a real estate spree....MORE
The Japanese telecom giant's $100 billion Vision Fund has invested $400 million in Opendoor and led a separate $400 million round for Compass. Both companies are real estate tech businesses that operate online platforms for buying and selling homes. Opendoor, which has also announced $2 billion in debt financing, is valued at an estimated $2 billion with the new funding. And Compass has now doubled its valuation to $4.4 billion.
The pair of fundings is part of a larger trend toward big bucks going into real estate tech companies in the US:...
...Including the rounds for Opendoor and Compass, these companies have brought in $2.2 billion so far this year, per the PitchBook Platform, and 2018 is on track for more than $3 billion of capital invested in the space. Last year also saw a significant amount of funding, though the total skews unusually high, as the majority of the $5.4 billion poured into the industry consisted of a $3 billion round for WeWork....
Monday, October 1, 2018
"SoftBank doubles down on real estate tech as VC interest in the space climbs"
From Pitchbook, Sept. 27:
