Knock preparing to go public

Knock, which launched in 2015 as an iBuyer but pivoted to an alternative financer that partners with agents to help pre-fund mortgages for homebuyers, has hired Goldman Sachs to explore a run at going public. A $2 billion valuation is being considered. This comes as other iBuyers race to go public – Opendoor, which went public via a SPAC in December 2020 and Offerpad, which Spencer Rascoff’s SPAC stated in March it intends to take public soon. These companies are seeking access to the vast amounts of money made available in the public markets to compete for market share.