Pandemic Disrupts Boom in Real Estate Venture Capital
Real Estate Tech VCs have a Low & Dejected outlook over the 3-6 months The real estate tech venture capital market was riding a wave of accelerated growth in the past two years. Record-setting figures in both d...News Archives | Page 563 of 1007 | CREtech
The real estate tech venture capital market was riding a wave of accelerated growth in the past two years. Record-setting figures in both deal volume and capital had the young industry on track to set new records with impending IPO’s, notable exits and continued capital growth. However, in the wake of the global pandemic and tightening economic conditions, real estate tech startups, and their VC...
It took just a matter of days to shut down New York City, once the coronavirus took hold. Restarting it will take much, much longer. The economic impact in the city from the global pandemic has been striking: Hundreds of thousands are already out of work; at least $7.4 billion in tax revenue is projected to be lost by the middle of next year.
Francis Davidson’s biggest challenge last year at his short-term apartment-rental website, Sonder Inc., was fending off a dozen new rivals fueled by a flood of investor capital. It wasn’t the worst problem a 27-year-old could have, as he ran a startup valued at $1 billion.
Even with real estate agents now relying on virtual showings, the 3D video company Matterport has cut one-third of its staff. The Sunnyvale, Calif.-based company has slashed 90 jobs, according to the Silicon Valley Business Journal, attributing the layoffs to fallout from the coronavirus pandemic.
No commercial real estate sector has emptied out more amid the coronavirus pandemic than office, and its future is also the most uncertain. After months of working from home, millions will someday return to their offices with radically different expectations and worries than they had before the crisis. How landlords and employers will respond to those concerns isn’t known, but trends in office...
There is increasing confusion over the future of short-term private accommodation rental brand Stay Alfred. The U.S.-based high-end property platform suspended operations at the beginning of April, as the coronavirus outbreak took a firm grip on cities across the country and travelers were urged to stay at home.
Anna’s bright blue eyes light up as she explains her reasons for moving to the city in retirement. A little more than a year ago she sold her four-bedroom suburban home and moved into a two-bedroom apartment downtown. When asked why she downsized to less than half of the space she enjoyed for decades, the excited 70-year-old retiree exclaimed, “Everything is right there. Anything I want—food...
Amazon has started to use thermal cameras at its warehouses to speed up screening for feverish workers who could be infected with the coronavirus, employees told Reuters. The cameras in effect measure how much heat people emit relative to their surroundings. This requir...