Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
WSJ
Perhaps all you need to do to play the stock market is pay close attention to WeWork. The debacle at the consciousness-elevating office-rental company appears to mark a turn by investors away from rewarding revenue to a focus on profits. Put another way, the shock of WeWork’s failed initial public offering has helped awaken investors from the dream that easy finance will last forever….
THE REAL DEAL
A startup that empowers buyers to make all-cash offers on homes just got a lot more firepower. Ribbon, based in New York and Charlotte, North Carolina, announced $330 million in new debt and equity that it plans to use to fuel an expansion into new markets and enhance product development. The investment includes a $30 million Series B led by Greylock Partners, and $300 million in debt from Goldman Sachs. (The debt facility may be increased by $220 million, the company said.)…
THE REAL DEAL
Zillow’s push into instant homebuying has led to both soaring revenues and losses for the listing giant, and CEO Rich Barton wants to set the record straight on how it makes money from the iBuying craze. At the firm’s Unlock event on Monday, Barton insisted that the iBuying service it launched last year, Zillow Offers, is fundamentally different from a house-flipping business….
VENTUREBEAT
LinkedIn cofounder and Greylock Partners investor Reid Hoffman tells executives who are running startups that scale fast — the kind who want to double in size every few months — to build ethics into their businesses. As companies plan for the future and grow their engineering or sales ranks, they should consider what can go wrong, he said, and hire people whose job is dedicated to risk management. (Former DARPA director Regina Dugan suggested the same at an AI conference for CEOs held by Sams…
KANSAS CITY BUSINESS JOURNAL
Envoy Inc., a San Francisco-based workplace technology company backed by $60 million in venture funding from several top Silicon Valley VC firms, has ambitious plans for the company and its third office, which opened last monthin Overland Park. While the visitor management software company already has two offices that straddle the coasts — California and New York — it needs a third location to double its current base of 150 employees by the end of 2020. The Overland Park location houses a team…
BUSINESS INSIDER
Business Insider The event was the public debut of Dock 72, which was built by Rudin Development and Boston Properties with WeWork as the anchor tenant. Hollis Johnson/Business Insider At CREtech New York earlier this month, more than 2,000 attendees from 1,000 companies and 35 countries gathered at Brooklyn Navy Yard’s Dock 72, according to organizers. Business Insider attended the event and spoke with more than a dozen people: investors, startup founders, venture fund operators, a…
SHARPLAUNCH
Commercial real estate is making substantial leaps in business performance using methods that were simply not possible less than a decade ago.With so many options, deciding where and how to use the latest technological innovations can feel overwhelming. We asked some of today’s industry leaders to share advice about how today’s best tech helps retain tenants, improve productivity and help them make smarter, faster decisions….
THE REAL CROWD PODCAST
Listen now to episode 1 of The Real Crowd’s podcast interview series, “Fundamentals of Commercial Real Estate Investing” at CREtech New York 2019 featuring Michael Beckerman, CEO, CREtech; Michael Rudin, SVP, Rudin Management Company; David Wind, Managing Member, DAW Partners; Anthony Alvernaz, Product Management, CRE Simple; and Gordon Smith and Patrick Frank of Biproxi.
FINSMES
Young Alfred, a New York City, NY and Philadelphia, PA-based home insurance shopping platform, raised $10m in Series A funding. The round was led by Gradient Ventures, Google’s AI-focused venture fund, with participation from Pear Ventures, ERA, and Newfund Capital. In conjunction with the funding, Zach Bratun-Glennon, Partner at Gradient Ventures, will be joining Young Alfred’s board….
THE REAL DEAL
Soho House, the luxury hotel and private members’ club, has raised $100 million to fund a global expansion over the next few years — pushing the company’s valuation to $2 billion. Founder and chief executive Nick Jones told the Financial Times that the company planned to double its venue count to 50 locations, with new sites in Paris, Rome, Tel Aviv and Nashville. It raised the money from Simon Property Group and Bippy Siegal’s Raycliff Capital….
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