The investment was led by Institutional Venture Partners. Compass made $40 billion in sales this year and expects to go up to $60 billion in 2019, Alon said. [25] The company publicly debuted at an event in May 2013, where then-New York City Mayor Michael Bloomberg helped celebrate the launch. About Elon Musk. Ori's background working in technology includes serving as Director of Engineering at Twitter, founding Julpan which was acquired by Twitter, and founding Orion which was acquired by Google. /* ]]> */ Paul English co-founded travel site Kayak in 2004. CEO Robert Reffkin acknowledged that the softening of the equity markets contributed to the decision not to enter new markets in 2019. [5][6] Compass specializes in high-margin, luxury homes in upscale markets. Prior to this, Google bought his search algorithm Orion and he headed up his own team that helped introduce the technology to the search engine. As of this writing, Ori has a $405 million stake in the company yet no direct reports. The net worth of the wealthiest individual, Gina Rinehart, was $31.06 billion; while the net worth of the 200th wealthiest individual, Douglas Clarke, was {590 million; up from $540 million for the 200th individual in 2020. Greg has extensive experience building and managing large, globally distributed teams comprising business line leaders, marketers, product managers, UX designers, engineers, machine learning and speech scientists. } California park launches its first ever 'Pride Nite' where Mickey and Minnie Mouse will be dressed in rainbow costumes - amid Bob Iger's ongoing war with Ron DeSantis in Florida, Texas architects reveal first look at $60M Uvalde school to replace Robb Elementary - which will feature ballistic glass and a symbolic tree to remember the 21 killed, Bizarre moment boy, 13, is rescued from claw machine at North Carolina amusement park after climbing INSIDE to claim a prize, Homeless people who set up camp on the border of Beverly Hills claim they were told to move there by COPS - as locals say they 'fight all hours of the day' and sell drugs, Succession star Nicholas Braun reveals the major TV role he was rejected for: 'I was bummed because I really went for it', Andrew Lloyd Webber admits feeling 'sad' to see The Phantom Of The Opera end its record-breaking Broadway run, Jessie James Decker slams United Airlines for 'humiliating' her pregnant sister Sydney - after flight attendant made her clean up her child's popcorn, Blue Jays pitcher sparks furious traveling etiquette debate after slamming United for making pregnant wife pick up kids' mess, Jack Black makes his solo debut on the Hot 100 Singles charts with his new song Peaches from The Super Mario Bros. Movie, Teen star Piper Rockelle and her mom Tiffany break cover after being sued for $22M by 11 teens featured on channel: Mom 'called herself Madam of YouTube' and 'abused kids', Florida man, 72, has his right leg ripped off below the knee in horrific alligator attack: Two reptiles are shot dead in the water including one with a foot protruding from its mouth, Light the beam again! Urban Compass currently employs more than 100 people full-time and it expects to double its staff by the end of the year. Photo: Orel Cohen. and M.B.A. from Columbia University and worked at McKinsey, Goldman Sachs, and as a White House Fellow. Age 73. Hes not going to be an expert on everything all the time, but he tries to be an expert on the things that matter.. Ori Allon, 41, has already sold two tech companies prior to co-founding Compass. Ori Allon and Robert Reffkin founded the Compass Company. Charles Phillips is the former CEO and Chairman of Infor, the third-largest business software applications company in the world. I want to thank the entire Compass community across over 1,000 (!) Its unclear if the investors followed through. Jobs. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Bad office debt grows at M&T, but bank still in good shape, Taconic sells Lower East Side retail condos, topping midsize i-sales, Compass IPO means payday for these investors, The definitive guide to the Compass C-Suite. [55] Compass planned to launch in Nashville, Houston, and Denver before the end of 2018. If you want to see an apartment, you can schedule a viewing on Urban Compass which will put together an itinerary for you (Urban Compass is like ZocDoc a real-time doctor appointment tool for house hunting). window.onload = function(){ The two play important roles at the firm, but Allon is who we're talking about today. h = d.getElementsByTagName('head')[0], from Smith College, an M.P.A. j = d.createElement( s ), dl = l != 'dataLayer' ? Compass does not discriminate against voucher holders pursuant to applicable law. Last updated: 1 April 2023 at 11:00am EST. Allon owns a 5.5% stake in outstanding Class A shares of Compass. The following is a list of acquisitions by Compass: Language links are at the top of the page across from the title. That follows on from his confirmation as Australias youngest self-made (we say derisively) billionaire back in July. Life is good for the 32 year old Israeli-born programmer, who, having sold his first company to Google and his second to Twitter, is tech's equivalent of a two time all-star. w[ l ] = w[ l ] || []; Namely Realogy Holdings Corp., which has $508 billion worth of transactions annually, and Waren Buffet's HomeServices of America Inc., with annual transactions amounting to $100 billion. That was an improvement over 2019, in which the business posted a net loss . (A third person, Avi Dorfman, claims he also cofounded Compass and is suing for an equity. [20], Compass was founded by entrepreneurs Ori Allon, Robert Reffkin and Avi Dorfman as Urban Compass in 2012. Alon also reports gaining a 30% market share in San Francisco. His bet on Compass and by extension the U.S. housing market hits a lot closer to home. Assuming SoftBank held its shares, they would be worth $2.55 billion. Mr. Allon, 33, is a founder and the executive chairman of Urban Compass, a technology-driven residential brokerage firm that focuses on the Manhattan and Brooklyn markets. Robert completed a B.A. Part of the Daily Mail, The Mail on Sunday & Metro Media Group, Harrowing moment medics rush to save Jeremy Renner's life after he was crushed by 14,000lb snow plow - as actor is seen sprawled on the ground in a pool of his own blood and with 35 broken bones, ANOTHER report says COVID leaked from a lab: Biden administration faces more pressure to release all the intelligence on virus origins - after independent GOP probe found litany of safety issues at Wuhan Institute, Rural Ohio school district will allow teachers and staff to ARM themselves with guns: 'We will no longer be soft targets and unprotected', Yellowstone coming to an end after the second half of its fifth season amid disputes between Kevin Costner and creator Taylor Sheridan, sources say, Ex- NFL star Chris Smith dead at 31: Tributes pour in for eight-season defensive end who last played for Texans in 2021 and had JUST signed to the XFL, 'He didn't deserve to get shot': Good Samaritan, 42, recalls how he rushed to save 16-year-old 'shot by 85-year-old man' when he mistakenly knocked on his door - as teen was bloody and screaming for help, Prosecutor claims there WAS a 'racial component' in shooting of black Missouri boy, 16, who mistakenly knocked on door of elderly white man - as 85-year-old is charged with first-degree assault and armed criminal action, Missouri home where gifted black teen, 16, was shot after ringing wrong doorbell had signs warning 'NO SOLICITORS' and surveillance cameras, Disney doubles down! img#wpstats{display:none} or debate this issue live on our message boards. .postid-1764461 .panel-signup { Urban Compass acts as a broker, taking between 0 and 15% per completed deal. .podcast-banner.show_mobile { } For daily updates, subscribe to our newsletter by clicking here. display: none !important; "A compensation expert for Dorfman argued that as of June 2017 Dorfman was entitled to between 2 million and 2.2 million shares, or roughly 6 to 7 percent of the company, based on Reffkin and co . Real estate technology firm Compass Inc. - founded by Australian entrepreneur Ori Allon - has reportedly been valued $1 billion or more by US financial markets. A 2018 $1 billion investment, famous backers, and a series of acquisitions the company made give weight to Allons rosy forecasts. Dr Allon also sold his social research company, Julpan, to Twitter in 2011. The most active insiders traders include Jr Charles E Phillips, Frank Martell, and Robert L. Reffkin. // console.log('Changed ' + all_links.href); During his time in the NBA, Stoudemire earned a top yearly salary of $23.4 million. ", "This startup that wants to blow up the real-estate market is now worth more than $1 billion", "Compass hires Facebook alumnus to steer recruitment strategy Real Estate Weekly", "Compass replaces chief financial officer", "City's top-selling residential broker team jumps to new-in-town firm", "Compass reveals plans for massive expansion", "Compass nabs $400M, valuing the real estate technology startup at $4.4B", "Compass Is Said to Raise Funds at $4.4 Billion Valuation", "Compass raises $400M from SoftBank, QIA; brokerage now valued at $4.4B", "Hitting the brakes: Compass won't expand to new markets this year", "Compass goes global with India tech hub, adds Amazon veteran", "Real estate brokerage Compass files for IPO amid pandemic boom in housing prices", "Real estate agencies put the spotlight on staging", "Brokerage Compass starts offering an easier, less expensive way to get a bridge loan", "Compass | Compass Coming Soon | Whisper Listings", "Here's a look at the tech used at SoftBank-backed real-estate brokerage Compass", "This $800 million startup just launched an app to make buying a home easier", "New York realty firm to open office in D.C.", "Compass acquires Chicago brokerage Conlon Christie's", "Compass buys Hudson Company, continuing Chicago expansion effort", "Paragon Real Estate of SF acquired by Compass to form city's largest brokerage", "Compass buying Pacific Union - its second SF real estate acquisition in two months", "Avenue Properties joins real estate tech company Compass", "Compass | Wydler Brothers Real Estate | Robert Reffkin", "Compass acquires Contactually, a CRM provider to the real estate industry", "Compass buys Alain Pinel to create Bay Area real estate behemoth", "Compass | Stribling & Associates | Residential brokerages", "Real-Estate Brokerage Compass Buys AI Startup Detectica", "Real estate brokerage Compass to acquire Seattle-based home closing startup Modus", "Compass buys Glide, RE transaction management platform", https://en.wikipedia.org/w/index.php?title=Compass,_Inc.&oldid=1144263227, Real estate services companies of the United States, Companies listed on the New York Stock Exchange, Real estate companies established in 2012, Publicly traded companies based in New York City, Pages with non-numeric formatnum arguments, Articles with a promotional tone from November 2021, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, Lindsay Reishman Real Estate (November 2014), Northwest Group Real Estate [NWG] (April 2018), Pacific Union International (August 2018), This page was last edited on 12 March 2023, at 19:09. Compass Insights is a dashboard that contains key data points agents need to craft marketing strategies, uncover new lead-generation opportunities, and invest accordingly in the positioning of their listings. [20] History [ edit] Compass was founded by entrepreneurs Ori Allon, Robert Reffkin and Avi Dorfman as "Urban Compass" in 2012. In conjunction with that investment, at $118 per share, Discovery also made a tender offer and bought $23 million worth of stock from prior investors. No comments have so far been submitted. external_links_in_new_windows_load(external_links_in_new_windows_loop); As an emerging markets specialist, hedge funder Robert Citrone is used to eyeing distant shores for his next investment. document.links[t].removeAttribute('target'); Compass, Inc. is an American licensed real estate broker that utilizes the Internet as a marketing medium with the use of real estate technology. Urban Compass has. Frank serves on the global board of directors of Operation HOPE, a best-in-class provider of financial literacy empowerment for youth, financial capability for communities, and financial dignity for all. Investors included Advance Publications, Salesforce.com CEO Marc Benioff, and .406 Ventures. If his holdings remained. It lost $270 million last year, down from $388 million in 2019. Dr. Allon received a doctorate from The University of New South Wales. Compass employs more than 25,000 agents who earn a percentage of the selling price and give a percentage of each commission to Compass, consistent with the traditional real estate brokerage business model. } Last Thursday, high-tech entrepreneur Dr. Ori Allon, owner of the real estate company Compass, Inc., came to Wall Street for the opening ceremony of trading on the New York Stock Exchange, on. COMPASS, the Compass logo, and other various trademarks, logos, designs, and slogans are the registered and unregistered trademarks of Compass, Inc. dba Compass in the U.S. and/or other countries.Corporate Responsibility, Privacy & Legal Notices: Compass is a licensed real estate broker, licensed to do business as Compass RE in Delaware, Idaho, New Jersey, Pennsylvania and Tennessee, Compass Real Estate in Washington, DC, Wyoming and Idaho, Compass Realty Group in Missouri and Kansas, and Compass South Carolina LLC in South Carolina. Residence Hong Kong . Ori Alon Net Worth Ori Alon Net Worth 2023, Age, Height, Relationships, Married, Dating, Family, Wiki Biography. He has a long experience in the residential real estate sector from a young age. Discoverys investment was not previously reported, and the size of its stake is second only to SoftBanks, which owns nearly 35 percent of the brokerage. Start Date. It will be interesting to see what Ori Allon does next! In 2012 he co-founded Compass, the real estate technology company, where he currently serves as Executive Chairman. Photo by Martin Schoeller for Forbes. Do Not Sell or Share My Personal Information, Texas Real Estate Commission Information About Brokerage Services, Texas Real Estate Commission Consumer Protection Notice, New York State Standard Operating Procedures, Notice of Reasonable Accommodations for Prospective Tenants. We are no longer accepting comments on this article. from the University of Maryland Francis King Carey School of Law. We have strong conviction that the technology and tools that Compass is building for agents will help them grow their business and better serve their clients, it said. Stay up to date with what you want to know. window.dm = window.dm ||{ AjaxData:[]}; [51] Additionally, Compass announced aggressive expansion plans to 9 more cities.[52]. The prospectus shows that Series D were converted into 1.02427 shares of Class A common stock. Net worth: $745 million What he does: Co-owner of agriculture business Greensill Farming, which grows sugar cane, fruit and vegetables in Queensland's food bowl, and board member and shareholder of Greensill capital a financial services firm and principal investor group worth over $6 billion. } ); Dr Ori Allon is a technologist and entrepreneur who, throughout his career, has built software-driven businesses that generate personalised experiences for the everyday consumer. Max Frost said Mr. Allon first approached RocaNews. @Compass. } Urban Compass has raised a $40 million series B round at a valuation that exceeds $360 million. for (var t=0; t
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