Latest Trends and Insights in Real Estate Technology

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  • UPS Gets FAA Nod for Widespread Drone Deliveries

    WSJ

    United Parcel Service Inc. UPS -3.35% said it received the first-of-its-kind federal approval to start setting up a fleet of unmanned aircraft to deliver health supplies and eventually consumer packages potentially throughout the U.S. In the latest regulatory boost for expanded commercial drone services, the company also intends to gradually phase in routine night flights and heavier cargo limits—areas now generally off-limits to most operators. …

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  • 1 Week Until the Largest Conference in Real Estate Tech – Get Conference Pass

    CREtech

    Join us for CREtech’s biggest east coast two-day conference on October 16-17, 2019. Get an all-access conference pass to discuss all things real estate tech innovation with the most sought-after speakers, the leading startups, investors from around the world, motivated developers/owners and brokers. Our sold-out events are a must-attend for real estate professionals to network, discover and transform your business….

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  • WeWork Adds Another 362K SF to NYC Portfolio

    COMMERCIAL OBSERVER

    After what was possibly the world’s worst week for WeWork, the newly headless company closed on a 362,197-square-foot lease at 437 Madison Avenue in the Plaza District. The coworking giant will occupy floors two through 12, plus a portion of the 14th floor, at the 40-story, 850,000-square-foot building, located between East 49th and East 50th Streets. It will replace Omnicom, whose lease expires in 2020.

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  • These startups were banking on WeWork. Now they’ll be sold at a discount

    THE REAL DEAL

    WeWork isn’t the only company whose value sank when the co-working giant stumbled. Some firms it bought with a mix of cash and stock options are suddenly worth a lot less, at least on paper. And now they are on the chopping block as the office-space startup tries to right itself after weeks of turmoil and an abandoned IPO. WeWork is also looking to cut costs and raise capital, potentially by laying off thousands of employees and severing ancillary business lines.

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  • Venture Investment in Proptech Poised to Break Record This Year

    GLOBEST

    LONDON—For CRE professionals, technology has been a double-edged sword, creating both challenges and opportunities. If real estate professionals have been challenged by technology, it’s likely they see it as a threat. But DLA Piper’s Global Real Estate Practice Co-chair John Sullivan thinks people need to look at it differently. “I think people who look at technology as only a threat are making a big mistake,” Sullivan tells GlobeSt.com. “As you look at the percentage of money that’s spent…

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  • WeWork Still Needs Cash After Pulling IPO

    WSJ

    For years, WeWork’s parent company was defined by big spending as it relentlessly pursued rapid growth. Now, in the aftermath of a botched initial public offering attempt and the ouster of co-founder and chief executive Adam Neumann, it is facing a different reality: It needs to stop bleeding cash. On Monday, We Co. said it would file a request with the Securities and Exchange Commission to withdraw its IPO proposal. The company said it is postponing the offering to focus on its core bus…

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  • CoStar Agrees to Buy Hotel Data Firm STR

    WSJ

    CoStar Group Inc., which has built a multibillion-dollar business out of selling commercial real estate data, is making its biggest push so far into the hotel business by agreeing to pay $450 million in cash for STR, one of the world’s largest hotel data firms, the companies said Tuesday. Founded in 1985 as Smith Travel Research, STR gathers confidential data on such metrics as revenue and occupancy from over 65,000 hotels world-wide in over 180 countries. Lodging owners and hotel companies l…

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  • Speaker Spotlight: Vanessa Anderson, Vice President of Operations, Truss

    CREtech

    Attending the CREtech New York Conference on October 16-17, 2019? Don’t miss Vanessa Anderson, Vice President of Operations at Truss on the Innovation Stage at CREtech New York for her session, “What Do Tenants Really Want? A Lot.” Learn insights seen from the 15,000 actual tenants using the Truss platform. What trends and amenities will really attract your next tenants. Our team at CREtech recently caught up with Anderson to learn more about her role and her vision for the commercial real…

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  • IBM’s AI generates high-quality voices from 5 minutes of talking

    VENTUREBEAT

    Training powerful text to speech models requires sufficiently powerful hardware. A recent study published by OpenAI drives the point home — it found that since 2012, the amount of compute used in the largest runs grew by more than 300,000 times. In pursuit of less demanding models, researchers at IBM developed a new lightweight and modular method for speech synthesis. They say it’s able to synthesize high-quality speech in real time by learning different aspects of a speaker’s voice, making it p…

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  • SoftBank Plans to Name Former Sprint Boss to Help Fix WeWork

    BLOOMBERG

    SoftBank Group Corp. is tapping Marcelo Claure to help turn around WeWork, after ousting co-founder and Chief Executive Officer Adam Neumann from the corner office earlier this week. Masayoshi Son, the head of SoftBank, WeWork’s largest investor, has asked the former chief executive officer of Sprint Corp. to take a more hands-on role helping oversee a cleanup of the office-rental company from his position at SoftBank, said people familiar with the matter, who asked to not be identified becau…

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