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It should have been a hard sell. Public markets had received Uber and Lyft’s IPOs poorly in the spring given the services’ lack of profitability. By fall, WeWork’s IPO was collapsing as it continued to burn money on its business of leasing properties and turning them into co-working spaces. But Bungalow’s cofounder and CEO Andrew Collins believed his co-living business—which uses a simil...

Luko, the Paris-based home insurance startup, announced today that it has raised a €20 million Series A led by the VC firm Accel, with participation from Founders Fund and Speedinvest. The fresh capital will be used to start the international expansion soon. Home insurance is a €100 billion industry in Europe, but its opaque terms and conditions, multi-stage and elongated processes and ‘gui...

Eden, the leading workplace management platform that makes it easier for fast growing, innovative companies to run and scale their offices, today announced a $25 million Series B funding round led by Reshape. The raise succeeds a momentous year in Eden’s growth, in which the company onboarded its 2,000th service provider and brought its platform transaction volume past the $50 million mark. This...

Alphabet-owned Google sibling Sidewalk Labs has released a new update on its plans for the controversial Waterfront Toronto development. The 483-page Digital Innovation Appendix (DIA) aims to provide up-to-date information on the digital innovation components of its proposal and to address some of the questions raised following the release of the 1,500-page draft master innovation and development...

More than a third of WeWork’s 12,000 employees will likely receive notice this week that they no longer have a job. The layoffs are part of an effort by the struggling office-space company to cut costs, close ancillary businesses and narrow its offering to subletting office space. In a company email sent by chairman Marcelo Claure, employees were told that layoffs will begin this week in the U....

WeWork said it will begin job cuts “in earnest” this week in the U.S., a bid by the struggling office-sharing startup to stabilize its business amid staggering losses. Executive Chairman Marcelo Claure told staff in an email Monday that the process, which will involve eliminating and scaling back some functions and responsibilities, “will make us stronger and better able to generate even mo...

He’s reportedly not going to take over WeWork, but John Legere is definitely on his way out of the CEO role at T-Mobile, the carrier that is currently merging with SoftBank-controlled Sprint. Today the carrier and Legere confirmed that Mike Sievert — currently T-Mobile’s COO — will succeed Legere as CEO on May 1 of 2020. Legere will stay on the board. Neither Leg...

WeWork’s bonds are falling deeper into distress as the office-sharing company confronted another string of negative headlines in the past week -- from an SEC inquiry into its failed IPO to a $1.25 billion third-quarter loss. The company’s $669 million of notes due in 2025 dropped more than 3 cents on the dollar to about 71 cents on Monday, according to the bond-price reporting system Trace. T...

Super fast 5G cellular networks are hot as major wireless carriers from Verizon to AT&T deploy the service, but it’s unclear if the infrastructure is in place for in-home 5G to replace current cable-based broadband. The 5G-enabled future seems kind of distant. Real estate developers would need to put fiber...

I am blessed with the good fortune of working in two of the broader industrial real estate markets in the United States: the powerhouse that is Dallas–Fort Worth and the Eastern Pennsylvania corridor.  Though the amounts of cheesesteaks and dairy cattle are vastly different from Dallas-Fort Worth (the smell of manure during the spring will knock you off your bicycle), many of the same issues ar...