Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
TECHCRUNCH
Fintech has been a very popular area for venture investment, and this is particularly true in Europe. Dozens of high-growth fintech startups have launched over the past decade, from challenger banks and neobanks to new payment services and better ways to save and invest wealth.
BLOOMBERG
WeWork has backed out of an ambitious project to outfit a 36-story tower in Seattle with co-working space and its co-living offshoot, as the company looks to shore up its finances. WeWork won’t lease the building at Third Avenue and Lenora Street from Martin Selig Real Estate, according to a joint statement from the companies Monday. The decision leaves one of Seattle’s biggest office landlords without a tenant just as a major new project is nearing completion. …
BLOOMBERG QUINT
(Bloomberg) — VTS Inc., a closely held provider of online real estate services, acquired another web-based platform, PropertyCapsule, in a bid to jump-start growth. The deal was valued at $20 million, said a person familiar with the terms who asked not to be identified because the price wasn’t announced. PropertyCapsule helps market commercial real estate.
BUSINESS INSIDER
This year has been a banner year so far for the real estate tech world. A new report from EY and CREtech pegged venture capital investments in so-called built-world tech at $24.6 billion through the third quarter, the most since 2015, the first year analyzed by the report.
BISNOW
Even as it teeters on the brink of total collapse, The We Company still inspires fierce competition among potential investors. SoftBank Group, WeWork’s biggest single source of capital in the past three years, is negotiating to invest potentially billions more in a bid to take a controlling stake in the company, The Wall Street Journal reports. The added ownership share going to SoftBank would further diminish former CEO Adam Neumann’s voting shares.
BISNOW
The We Company has canceled plans for its long-anticipated Seattle co-living location, it announced Monday. In what would have been its third WeLive and first West Coast co-living location, WeWork had planned to occupy the entirety of Martin Selig Real Estate’s 36-story tower heading for the city’s Belltown neighborhood.
TECHCRUNCH
Google this morning unveiled the long-awaited follow-up to the Home Mini. The latest version of the company’s wildly popular entry-level smart speaker has been rebranded the Nest Home Mini, in keeping with the branding refresh of its smart home offerings. The new version of the device looks a lot like its predecessor, but features a number of internal upgrades.
WSJ
WeWork bonds plumbed new lows Tuesday, highlighting questions about the shared-office startup’s future as it explores options for raising desperately needed cash after shelving an initial public offering.
WSJ
An apartment-hotel company that manages short-term rentals is leasing and managing an entire 26-story Dallas apartment building, the latest sign this budding segment of the lodging market is starting to gain traction.
JOIN
Join to launch at Dock 72 with tailored services for the CREtech New York Conference on October 16-17 New York, NY (October 15, 2019) — Join™, the Cloud for Smart Buildings and Smart Workplaces, is pleased to announce that the company has added Dock 72 to its Cloud and will launch the service at the 2019 CREtech NYC Conference, being held on October 16th and 17th at the new Boston Properties-Rudin development site in Brooklyn. CREtech (cretech.com) is the leading event, content and connectivit…
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