<SEC-DOCUMENT>0001193125-21-097388.txt : 20210428
<SEC-HEADER>0001193125-21-097388.hdr.sgml : 20210428
<ACCEPTANCE-DATETIME>20210329062428
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-21-097388
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210329

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Compass, Inc.
		CENTRAL INDEX KEY:			0001563190
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				300751604
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		155 AVENUE OF THE AMERICAS
		STREET 2:		SIXTH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013
		BUSINESS PHONE:		917-841-5555

	MAIL ADDRESS:	
		STREET 1:		155 AVENUE OF THE AMERICAS
		STREET 2:		SIXTH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Urban Compass, Inc.
		DATE OF NAME CHANGE:	20121128
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>Response Letter No. 4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="100%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">


<IMG SRC="g36119g0326155125802.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:35.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">James D. Evans</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:35.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">jevans@fenwick.com | 206.389.4559</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;29, 2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA
EDGAR </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Jan Woo, Legal Branch Chief</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Matthew Crispino, Staff Attorney</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Craig Wilson, Senior Advisor</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Laura Veator, Staff Accountant</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Re:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><B>Compass, Inc.</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><B>Amendment No.&nbsp;1 to Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><B>Filed March&nbsp;23, 2021</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;333-253744</FONT></B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are submitting this letter on behalf of Compass, Inc. (the &#147;<B><I>Company</I></B>&#148;) in response to the comments of the staff (the
&#147;<B><I>Staff</I></B>&#148;) of the U.S. Securities and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) contained in the Staff&#146;s letter dated March&nbsp;25, 2021 (the &#147;<B><I>Letter</I></B>&#148;), regarding the
Company&#146;s Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-253744)</FONT> originally filed by the Company with the Commission on March&nbsp;1, 2021, and as amended on
March&nbsp;23, 2021 (the &#147;<B><I>Registration Statement</I></B>&#148;). Concurrently herewith, we are transmitting Amendment No.&nbsp;2 to the Registration Statement (&#147;<B><I>Amendment No.</I></B><B><I></I></B><B><I>&nbsp;2</I></B>&#148;).
The numbered paragraphs below correspond to the numbered comments in the Letter and the Staff&#146;s comments are presented in bold italics. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to addressing the comments raised by the Staff in the Letter, the Company has revised Amendment No.&nbsp;2 to update certain other
disclosures. Capital terms used and not otherwise defined herein have the same meanings as specified in Amendment No.&nbsp;2. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Amendment No.&nbsp;1 to
Form <FONT STYLE="white-space:nowrap">S-1</FONT> filed March&nbsp;23, 2021 </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Risk Factors </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>We may not be able to maintain or establish relationships with multiple listing services and third- party listing services..., page 25 </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B><I>Please explain the anticompetitive practices that underlie your complaint against the Real Estate Board
of New York and disclose if they have had, or may have, a material impact on the company.</I></B> </P></TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;29, 2021 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;The Company advises the Staff that, in its complaint, it alleged that the Real Estate Board of New York
(&#147;<B><I>REBNY</I></B>&#148;) violated antitrust laws by conspiring with two other New York brokerages to seek to prevent or slow the Company&#146;s ability to recruit agents representing property owners in Manhattan and certain adjacent areas
of Queens and Brooklyn. The Company further alleged that, to advance this strategy, REBNY adopted a punitive rule that interferes with the ability of new agents who join the Company from another brokerage to interact with their existing clients
(even in cases where the clients initiate contact with the Company agent). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;Notwithstanding the above, the Company does not
believe the alleged conduct has had, or is likely to have, a material impact on the Company as a whole, and has revised its disclosure on page 25 of Amendment No.&nbsp;2 accordingly. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Consolidated Financial Statements </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Notes to
Consolidated Financial Statements </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>16. Subsequent Events </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>17. Subsequent Events (Unaudited), page <FONT STYLE="white-space:nowrap">F-50</FONT> </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B><I>Please disclose the estimated unrecognized compensation expense associated with your equity awards issued
subsequent to December</I></B><B><I></I></B><B><I>&nbsp;31, 2020, if material for the periods over which it will be recognized. Refer to ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">855-10-50-2.</FONT></FONT></FONT></I></B> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;In response to the Staff&#146;s comment, the Company has revised its disclosure on page
<FONT STYLE="white-space:nowrap">F-51</FONT> of Amendment No.&nbsp;2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;Should the Staff have additional questions or comments
regarding the foregoing, please do not hesitate to contact me at <FONT STYLE="white-space:nowrap">(206)&nbsp;389-4559,</FONT> or, in my absence, Ran <FONT STYLE="white-space:nowrap">Ben-Tzur,</FONT> at
<FONT STYLE="white-space:nowrap">(650)&nbsp;335-7613.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ James D. Evans </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">James D. Evans </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Partner </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc: <U>Via E-mail</U>
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kristen Ankerbrandt, Compass, Inc. (w/o enclosures) </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brad Serwin, Compass, Inc. (w/o enclosures) </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scott Wahlers, Compass, Inc. (w/o enclosures) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael Esquivel, Fenwick&nbsp;&amp; West LLP (w/o enclosures) </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ran <FONT STYLE="white-space:nowrap">Ben-Tzur,</FONT> Fenwick&nbsp;&amp; West LLP (w/o enclosures) </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Sawchuk, Fenwick&nbsp;&amp; West LLP (w/o enclosures) </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael Shaw, Fenwick&nbsp;&amp; West LLP (w/o enclosures) </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g36119g0326155125802.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g36119g0326155125802.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  W OL# 2(  A$! Q$!_\0
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M?G_*H;/4]5N1'"+L@231KYO#L-W4=,5V8C0'(11QC@=J188D&$C11G/"@<T
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M%%/%U:=*5*.S"IA:=2HJDMT<QXP\/SZW;V[6@4SQ,?O'&5-,\'>'KG1%N7O
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M;W%U=0W#Z:US B21?9RP')(P_P!,#\*I1Z1>)-Y;6'[YITE2Z$F1$@QE<]>
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$ '__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
