After much speculation and hype, Compass made it’s public trading debut yesterday with a $7 billion valuation. The company’s stock, which is listed under the ticker symbol “COMP,” opened at $18 per share, and immediately jumped 20 percent after trading began. It ended it’s first day on the market up at $20.15.
Per CNN Business, the company raised approximately $450 million after selling 25 million shares at $18/share, the lower end of its target range.
By end of trading Friday, Compass was trading at $20.15/share.
The Real Deal reports that yesterday’s opening at $18/share was 30 percent lower than execs initially hoped. Compass initially wanted to go public at a $10 billion valuation, by offering 36 million shares priced between $23-$26 each, with hopes to raise nearly $1 billion in the IPO. Earlier this week, the “tech company” lowered it’s target price to $19, before settling on $18. This brings Compass’ valuation to a bit more than $7 billion.
In July 2019, during it’s previous funding round, Compass was valued at $6.4 billion.