Latest Trends and Insights in Real Estate Technology

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  • CREXi Expands Leadership Team

    GLOBEST

    CREXi has expanded its leadership team with three new hires. Hans Ku joins the firm as chief product officer, Courtney Ettus joins as chief marketing officer and Bob Drury as managing director. Ku will focus on growing the world-class product team and building winning product features and enhancements. He joins the firm from Weedmaps, where he also served as chief product officer. In her new role, Ettus is responsible for the growth of the company’s brand in addition to customer acquisitio…

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  • Silicon Valley Looks North as Tech Giants Expand in Toronto

    WSJ

    TORONTO—Silicon Valley is invading Toronto. Intel Corp. has announced plans to build a graphics-chip design lab in Canada’s largest city. Car-hailing service Uber Technologies Inc. will be opening an engineering hub. Google’s parent, Alphabet Inc., proposed building a new Toronto campus as part of a sensor-laden “smart city” on the Lake Ontario waterfront, and Microsoft Corp. said it would expand its Canadian workforce by more than 20%….

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  • Airbnb’s First-Quarter Financials Show Strong Growth Rate, Cash Reserves

    WSJ

    Home-sharing company Airbnb Inc.’s most-recent financial data shows its strong cash position and a first-quarter growth rate above 30%, both key metrics that will draw investors as the startup positions itself to go public next year. The San Francisco-based travel company had about $3.5 billion in cash on its balance sheet as of March 31, according to multiple people familiar with Airbnb’s finances.

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  • Ikea doubles down on smart home tech with new business unit

    TECHCRUNCH

    Ikea’s smart home investments to date have been smart but scattered – now the Swedish home goods brand says it’s going to amp up its smart home bets with a brand new dedicated business unit. The company’s smart home endeavors began in 2012, and focused on wireless charging and smart lighting. It’s iterated in both areas since, developing self-installed integrated wireless chargers for its furniture, as well as light/charger combos, and finally with a new partnership with Sonos that produced the…

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  • Manhattan Office Market 2ND QUARTER 2019 REPORT A NEWS RECAP AND MARKET SNAPSHOT

    ABS PARTNERS

    The bill that has radically reformed New York City’s rent laws impacting rent regulated and rent stabilized housing was signed by Governor Cuomo on Friday, June 14, 2019. The Housing Stability and Tenant Protection Act of 2019 reportedly marks the first time in decades that major reforms to the rent laws have been enacted; and for the first time extends the protections to other counties that choose to opt in and are facing a housing emergency. The signing came just moments following pass…

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  • UPS Ventures Invests in Self-Driving Trucking Startup

    WSJ

    United Parcel Service Inc. ’s venture-capital division, UPS Ventures, has acquired a minority stake in self-driving trucking startup TuSimple Inc., signaling the delivery company’s continued push into autonomous driving. In addition, UPS will expand a partnership it began with TuSimple earlier in March for the startup to carry truckloads of goods between Phoenix and Tucson, Ariz., said UPS Ventures Managing Partner Todd Lewis. TuSimple’s trucks operate autonomously with a human operator on ab…

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  • Nvidia CEO: AI is the single most powerful force of our time

    VENTUREBEAT

    Nvidia CEO Jensen Huang said AI would drive long-term demand because it is the “single most powerful force of our time.” Nvidia reported earnings and revenues that beat analysts’ expectations as demand for graphics and artificial intelligence chips picked up in the second fiscal quarter. Huang also said his company’s near-term growth will come from gaming and a couple of variants of the company’s artificial intelligence chip business: inferencing and AI at the edge….

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  • LA-based Upfront Ventures has two new general partners, bringing its GP count to eight

    TECHCRUNCH

    Upfront Ventures, the 23-year-old, LA-based venture capital firm, is gearing up for far more deal-making. In addition to filing paperwork with the SEC this summer to raise its third growth-stage investment fund (it is also investing a $400 million early-stage fund and probably announcing another soon), the firm just added two new general partners to its lineup of investors. One of them, Michael Carney, joined Upfront as a principal in 2015 after working as an editor at the news site PandoDaily…

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  • Don’t worry, WeWork has only committed $47B to landlords

    THE REAL DEAL

    WeWork’s future as a public company collided headlong this week with investors’ biggest concern: What happens in a downturn? Nine hours after the co-working company filed its IPO prospectus, the Dow plunged 800 points on Wednesday. With a possible recession looming, WeWork’s parent, the We Company, disclosed that over the next 15 years, it has $47 billion in lease commitments. That’s the same amount as its latest valuation, and that figure is in addition to $6 billion debt.

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  • Co-working Operators Set for Expansion in the Southeast

    NATIONAL REAL ESTATE INVESTOR

    The co-working sector continues to expand in the Southeast, piggybacking off the area’s job and population growth, according to industry sources. “[Co-working space in the Southeast] is absolutely expected to continue to grow,” says Austin DuBois, assistant director of Workthere, an office space rental agency launched by real estate services firm Savills in 2017. “We are seeing more and more local and regional providers open their doors and we’re also seeing a lot of groups expand i…

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