When Fidelity Investments valued Compass, a real estate brokerage, for $1.8 billion, it was a rare show of confidence in a real estate firm where real estate brokerages have been in profitability crisis for 20 years. Compass invests heavily in technology that helps its agents assess and sell properties. Compass believes its technology gives it an edge but other market players think otherwise. According to Ori Allon, co-founder and executive chairman of Compass, $100 million from this investment would be used in investing in research and development. The company also plans to double its agents and expand offices.

Fidelity Values Compass at $2 Billion in Real-Estate Tech Deal

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