Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
SMARTCITIESDIVE
As the new coronavirus (COVID-19) pandemic sweeps the globe, micromobility companies face tough choices to balance operational targets with the threats of a growing health crisis, and cities weigh whether the transportation options could pose as a source for the spread of disease.
NYTIMES
OAKLAND, Calif. — While the rest of the economy is tanking from the crippling impact of the coronavirus, business at the biggest technology companies is holding steady — even thriving. Amazon said it was hiring 100,000 warehouse workers to meet surging demand. Mark Zuckerberg, Facebook’s chief executive, said traffic for video calling and messaging had exploded. Microsoft said the numbers using its software for online collaboration had climbed nearly 40 percent in a week….
BISNOW
IWG has begun approaching UK landlords to ask for a rent freeze to help mitigate the impact of the novel coronavirus on its business, and has sought to sweeten the pill for those that offer new terms, Bisnow can reveal. The London-listed firm has sent landlords a letter, seen by Bisnow, outlining changes that would help it absorb any potential loss of revenue while the public in the UK is told by the government to work from home where possible
FORBES
As news of COVID-19 and its impact rapidly unfolds, tech companies, their employees and investors are reviewing guidance regarding the financial future[1] of their startups/growth companies and how investors are seeking insight into how the venture markets will behave.
TECHCRUNCH
Billions of dollars have flowed into startup investing this decade, but the era appears to be closing with the coronavirus pandemic. Limited partners are saying no to younger venture firms who are still out raising, while cutting back on weaker existing firms in their portfolios, Connie Loizos reports on TechCrunch this week.
PLACETECH
FUTURE PropTech 2020, part of the CREtech real estate technology event series, has been rescheduled to 28-29 October, due to the coronavirus, and will continue to take place at Magazine London. “The wellbeing and safety of our community will always be our number one priority so postponing the event was ultimately an easy decision to make,” said Gary Chimwa, founder and MD of FUTURE PropTech. “We believe that the new October dates will present the best opportunity for all our delegates from aroun…
WSJ
Japan’s SoftBank Group Corp., 9984 18.95% which poured nearly $100 billion into pricey, cash-burning startups in the last years of the bull market, said Monday it would sell billions of dollars in assets to prop up its plunging stock price and shore up its debt-laden balance sheet following the threat of a ratings downgrade.
CRETech
Compass laid off 15 percent of its staff on Monday, The Real Deal has learned. With the economy reeling from the coronavirus pandemic, the Softbank-backed brokerage said it was projecting a 50 percent drop in revenue over the next six months.
THEREALDEAL
StreetEasy is slashing fees for New York rental agents. In an email to agents Thursday, the Zillow-owned portal said it was cutting prices in response to the “ever-changing circumstances” sparked by the coronavirus pandemic, which is wreaking havoc on the global economy.
BUSINESSCLOUD
Leaders in the real estate sector have called on the industry to adopt PropTech more quickly. A shift towards collaboration and transparency is very much in evidence in the finance sector thanks to open banking and the rocketing FinTech scene – but property has been slower to embrace change. Discussing the tenant experience and PropTech at a recent roundtable held by Round Hill Ventures, there was agreement that the real estate industry is still not set up for innovation. The event took place at…
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