Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CONSTRUCTIONDIVE
Katerra will close its 250,000-square-foot modular building “component and finish” factory in Phoenix and lay off 200 workers this month, a company representative confirmed. In addition, co-founder Fritz Wolff stepped down from his position as a member of the Menlo Park, California-based firm’s board earlier this month, to “concentrate on other professional pursuits.”
FINSMES
Sevan Multi-Site Solutions, Inc., a Downers, IL-based global leader in data analytics, surveys, design, program management and construction services, closed a $17.5m Series A funding. The round was led by ABS Capital Partners. As a result of the minority investment by ABS Capital Partners, Managing General Partner Phil Clough will join the Sevan board of directors. The company intends to use the funds to expand operations and business offerings, as well as to develop new technology. Founded in 2…
BLOOMBERG
WeWork is in talks to sell Managed by Q Inc., a business it owned for about eight months, according to people familiar with the matter. The deal may help the troubled office-sharing company raise cash and refocus on its main business. A group of investors and executives, including Managed by Q co-founder and former Chairman Dan Teran, is trying to buy the business back from WeWork, the people said. Discussions are progressing and WeWork is actively pursuing a resolution, said the people, who…
GLOBEST
Patrick Gasior, senior channel sales manager at Velis Real Estate Tech, describes the digital natives now entering the job market as Generation C (Gen C) for their ability to connect, communicate and change. While these three skills offer a lot of opportunities for employers, this generation also bring challenges. “They expect to have the same technology and communication environment in their workplace as they do at home,” Gasior says. “Without it, they feel alienated from the world they know so…
WSJ
The forces that are driving the nation’s top technology talent to just a handful of cities have intensified in recent years, leaving much of the nation behind as the U.S. becomes a more digital economy, according to a new study. Just five metropolitan areas—Boston; San Diego; San Francisco; Seattle; and San Jose, Calif.—accounted for 90% of all U.S. high-tech job growth between 2005 to 2017, according to the research by think-tank scholars Mark Muro and Jacob Whiton of the Brookings Institution …
BISNOW
Lou Baugier is getting physical in the scrum of real estate technology. The former All-American rugby player founded Vero Technologies in 2017 to streamline the multifamily rental process. The Brooklyn-based fintech company says it has reduced the time it takes to assess renter qualification and generate a lease by 99%, automating a process that typically takes days. This year has been a good one for the 29-year-old founder: Vero completed a nearly $3M seed round and Baugier was named one of Com…
SMARTCITIESWORLD
Over the past decade, several global trends have combined to drive noticeable shifts in how people live. These include the increasing urbanisation of global populations; the introduction of artificial intelligence, robotics and IoT devices; environmental factors; population growth in Africa, Asia and Latin America; and the rising purchasing power of the middle classes within developing countries. A 2015 United Nations (UN) report noted that 68 per cent of the world’s population is expected to li…
VENTUREBEAT
Keeping abreast of shopping trends online is straightforward enough — whole categories of startups achieve this with predictive modeling. But what about when that shopping takes place in-store? Tracking the behaviors of mall, outlet, and department store shoppers is of critical importance to physical store brands, particularly considering that the percentage of brick-and-mortar sales increased by 2% from $2.99 trillion in 2016 to $3.04 trillion in 2017.
BUSINESSLEADER
The European proptech venture capital firm’s pilot ‘PropTech Connect’ panel brought together some of the key players across the real estate ecosystem to discuss ‘scaling’. Access to information, open communication and barriers to innovation within the traditional real estate industry emerged as core themes. At a company level, Tushar Agarwal, co-founder of London’s largest marketplace for office space HubbleHQ, found existing processes and communication channels stopped working as his organisati…
BLOOMBERG
SoftBank Group Corp. tapped Goldman Sachs Group Inc. for new financing to help revive one of its biggest bets — an investment in office-sharing company WeWork. Goldman is arranging a $1.75 billion line of credit, the first step in SoftBank’s pledge to put together $5 billion in debt financing for WeWork as part of its bailout package, according to people with knowledge of the matter. In a twist aimed at making the financing more palatable to other lenders, SoftBank will be listed as the bor…
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