Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
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…
WSJ
Some WeWork directors are gearing up to fight SoftBank Group Corp. 9984 18.61% ’s move to back away from part of its bailout of the shared-office provider, presaging what could be a fierce internal battle just as the startup grapples with fallout from the coronavirus pandemic.
VENTUREBEAT
This week, nearly every major company developing autonomous vehicles in the U.S. halted testing in an effort to stem the spread of COVID-19, which has sickened more than 250,000 people and killed over 10,000 around the world.
THEREALDEAL
It’s a millennial’s dream: traveling the world while working, drinking, exploring and meeting like-minded nomads in chic hotels. That’s what Selina is selling. Backed by high-profile investors including WeWork co-founder Adam Neumann, the London-based startup operates dozens of hostels with co-working space in vacation spots across the globe.
NEWYORKCITYBIZLIST
Alpha’a, the B2B, crowd-sourced and purpose-driven PropTech fine art sales platform, has advanced to the second round of Meet The Drapers after winning in its first appearance on the popular tech startup investment television show
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