Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Wall Street Journal
Hours after Joe Taylor was laid off by Uber Technologies Inc., as part of the ride-sharing company’s far-reaching cost-cutting, the hardware engineer began looking for a new job. What he’s seeing is a Silicon Valley job market that has lost its spark.
Business Wire
CoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) announced it has commenced a public offering of $1.25 billion of its common stock. CoStar expects to grant the underwriters in the offering a 30-day option to purchase an additional $187.5 million of its common stock. Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities and Citigroup are acting as joint book-running managers for the offering. CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strat…
CREtech
In the post-pandemic era of commercial real estate, the industrial real estate sector may be the most disrupted, yet opportunistic. A true black swan event in modern economic history, today’s leaders in industrial real estate have rethought and transformed their approach and strategies in today’s economic environment. In a recent CREtech Talks, The Evolving Dynamics of Ecommerce, four industrial real estate experts, Geoffrey Kasselman of CRG, Will O’Donnell of Prologis Ventures, Jay Todisco o…
The New York Times
WeWork, the office space giant that was struggling even before the coronavirus shut down much of the economy, is asking landlords for a break on its huge rent bill as it tries to survive the pandemic.
TechCrunch
Arculus, the Ingolstadt, Germany-based startup that has developed a “modular production platform” to bring assembly lines into the 21st century, has raised €16 million in Series A investment.
The Real Deal
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post) Commercial real estate is navigating perhaps its greatest challenge in a generation, if not more. Many of the world’s most prominent companies have indicated that their needs for office space will…
Wall Street Journal
Construction startup Katerra is replacing its chief executive and has secured new funding, as the firm tries to navigate a sharp industry slowdown caused by the pandemic. Paal Kibsgaard, the former chief executive of oil services firm Schlumberger Ltd. and most recently Katerra’s chief operating officer, is taking over the helm on July 1. Michael Marks, who co-founded the company in 2015, is stepping down, Katerra said.
TechCrunch
In mid-March, Apple closed all of its stores outside of China “until further notice.” It was a sweeping — but necessary — move for a world facing down a growing pandemic. In a statement issued today until the title, “To our Customers,” Retail SVP Deirdre O’Brien offered insight into the company’s plans to reopen locations.
Wall Street Journal
Four years ago, Aaron Levie moved Box Inc., the fast-growing cloud-computing company he co-founded, into a new, red-brick building with its logo on the facade. Box decked it out with all the trappings of Silicon Valley: a sleek cafeteria, common areas with orange hammocks, and a bar built from a converted Volkswagen van with kombucha and cold-brew coffee on tap.
Business Wire
Northspyre, a cloud-based intelligence platform for real estate owners, developers and project management firms, today announced that it raised $7.5 million in Series A funding led by David Sacks’ Craft Ventures, with participation from Tamarisc Ventures. Northspyre is upending traditional commercial real estate project delivery with modern technology, automation and data-driven proactive insights.
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