Compass S-1
sec.gov
Compass S-1
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Re: Compass S-1
#2Compass is a real estate technology company that provides an online platform for buying, renting, and selling real estate assets.
Re: Compass S-1
#3$270M loss on $3.7B in revenue. If they can get opex down, there's some serious money to be made and a lot of growth left here. In my neighborhood I'm seeing more and more houses go up for sale with Compass signs.
Re: Compass S-1
#4> On the date of this prospectus, Robert Reffkin, our founder, Chairman and Chief Executive Officer, will hold all of the shares of our Class C common stock
> Each share of Class A common stock is entitled to one vote per share. Each share of Class C common stock is entitled to 20 votes per share
I'm surprised no one has proposed laws trying too crack down on founders have super-control of their company through stock voting power shenanigans. For example, I hear a lot of critique of facebook due to absolute control from Zuck' and his voting control - the remaining shareholders are unable to vote him out or otherwise exert control
Edit: not explicitly saying its bad for business or anything like that, just surprised it hasn't been regulated away.
Re: Compass S-1
#5> On the date of this prospectus, Robert Reffkin, our founder, Chairman and Chief Executive Officer, will hold all of the shares of our Class C common stock > Each share of Class A common stock is entitled to one vote per share. Each share of Class C common stock is entitled to 20 votes per share I'm surprised no one has proposed laws trying too crack down on founders have super-control of their company through stock…
And yet Zucc has increased the value of the company sevenfold since IPO. I don't love Zucc either but there is definitely something to be said for allowing the CEO to execute on their vision without being beholden to the tale of the hour and the spectacle of quarterly earnings.
Re: Compass S-1
#6> On the date of this prospectus, Robert Reffkin, our founder, Chairman and Chief Executive Officer, will hold all of the shares of our Class C common stock > Each share of Class A common stock is entitled to one vote per share. Each share of Class C common stock is entitled to 20 votes per share I'm surprised no one has proposed laws trying too crack down on founders have super-control of their company through stock…
There's probably been proposals, but I guess the fundamental argument remains that as long as it is clearly documented, investors know what they are getting into, and it hasn't gone wrong loudly enough yet (I think most high-profile examples are doing quite well, financially) to sway opinions otherwise.
(EDIT: And the main group being "forced" to invest and can't just skip such companies are index funds, who generally don't take an active position anyways?)
Re: Compass S-1
#7I see Compass signs all over the place. What makes them interesting here? Are they doing something that every other large real estate company isn't also doing?
Re: Compass S-1
#8Runs a lot faster than Zillow. Presumably because they haven't had time to add all of the analytics and tracking yet? or not as much load due to still being new(er)? Though it shows basically the exact same data as Zillow or Redfin.
Re: Compass S-1
#9> On the date of this prospectus, Robert Reffkin, our founder, Chairman and Chief Executive Officer, will hold all of the shares of our Class C common stock > Each share of Class A common stock is entitled to one vote per share. Each share of Class C common stock is entitled to 20 votes per share I'm surprised no one has proposed laws trying too crack down on founders have super-control of their company through stock…
> I'm surprised no one has proposed laws trying too crack down on founders have super-control of their company
I think your proposal explains the problem here - it’s their company. If we remove this option for control, we’d likely see companies like this stay private or private-ish in order to retain that control.
Re: Compass S-1
#10> On the date of this prospectus, Robert Reffkin, our founder, Chairman and Chief Executive Officer, will hold all of the shares of our Class C common stock > Each share of Class A common stock is entitled to one vote per share. Each share of Class C common stock is entitled to 20 votes per share I'm surprised no one has proposed laws trying too crack down on founders have super-control of their company through stock…
There's probably been proposals, but I guess the fundamental argument remains that as long as it is clearly documented, investors know what they are getting into, and it hasn't gone wrong loudly enough yet (I think most high-profile examples are doing quite well, financially) to sway opinions otherwise. (EDIT: And the main group being "forced" to invest and can't just skip such companies are index funds, who generall…
Yeah, honestly I prefer to invest in companies whose founders are firmly in control so that they can take a longer, strategic view.