Latest Trends and Insights in Real Estate Technology

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  • Corcoran begins new lead-gen push via Facebook ads

    THE REAL DEAL

    The Corcoran Group is officially embracing lead generation. The brokerage is launching an exclusive partnership with Swedish firm AdFenix beginning August 1 that will automatically create Facebook ad campaigns for every new listing on Corcoran’s website, and use an algorithm powered by artificial intelligence to target potential homebuyers. Agents will also gets ads for themselves and their teams through the partnership, which is entirely paid for by Corcoran. Through AdFenix, there is als…

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  • WeWork’s Top 10 Landlords

    MULTI-HOUSING NEWS

    Since it began taking up space for its coworking business, WeWork has been the talk of the commercial real estate industry. Its heavy spending has raised concerns that it is a volatile business model, especially in the face of a potential downturn—and the numbers speak for themselves. Last year, the company’s revenue doubled, but so did its losses. What’s more, Japanese bank SoftBank curbed its investment in the company from $16 billion to $2 billion.

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  • Novelty Or Next Trend? Google Venture-Backed Kitchen United Looks To Open 400 Ghost Kitchens Nationwide

    BISNOW

    On a recent day this summer, Dana Hathaitham stood in the middle of Kitchen United’s Pasadena location and watched the action unfold. Delivery drivers carrying satchels with Grubhub written on the sides walked in and out of the kitchen to pick up food. A group of people — a combination of local office workers and families — waited in line to place their orders at one of the four computer kiosks. An expediter fetched food and shouted out the names of those waiting for their pickup orders.

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  • Cushman & Wakefield partners with Fifth Wall

    REAL ESTATE WEEKLY

    Cushman & Wakefield announced a strategic partnership with Fifth Wall, a venture capital firm focused on technology solutions for the global real estate industry. Fifth Wall’s second fund is one of the largest real estate venture capital funds raised to date, closing at $503 million and more than doubling the size of its initial fund, which closed in May 2017 at $212 million. “We’re committed to identifying and partnering with organizations that can help us develop the next generation …

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  • iBuying pays off for Redfin, as revenue soars 39%

    THE REAL DEAL

    Demand for instant home-buying has started to pay dividends for Redfin. The Seattle-based discount brokerage said second-quarter revenue rose 39 percent to $198 million, beating expectations. The company’s net loss widened to $12.6 million, compared to $3.2 million, thanks to a bump in marketing expenses as it poured money into national ads touting a slew of new ventures, including instant home-buying.

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  • Sequoia’s First Woman Partner Is Raising Capital, and Standards

    BLOOMBERG

    In 2017, shortly after becoming a venture capitalist, Jess Lee attended a startup conference in Los Angeles. Her badge identified her employer as Sequoia Capital, an Apple Inc. and Google backer that was gearing up to raise more than $12 billion in several new funds. Under most circumstances, that’d be enough to get a VC mobbed, but the crowd largely ignored Lee, the first female investing partner at Silicon Valley’s most prestigious firm. “No one was even looking at my name tag,” she recalls. I…

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  • Altus Group Bolsters Global CRE Asset & Investment Management with Cloud-Enabled ARGUS Enterprise 12

    ALTUS GROUP

    Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate (“CRE”) industry, announces the launch of cloud-enabled version 12 of ARGUS Enterprise (“AE”). AE 12 is the latest version of the industry leading global asset and portfolio management platform used by thousands of customers around the world.

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  • IBM tests ways to improve natural language processing

    VENTUREBEAT

    It’s a miracle most enterprises manage to find anything in their labyrinthine storage setups. Companies increasingly tap a mix of public and private clouds that don’t always play nicely together, and the jargony nature of their employees’ search queries make them tougher to parse than, say, web searches. Fortunately, IBM’s recent work in natural language processing promises to address those and other search challenges in the corporate domain. In four papers scheduled to be presented at the An…

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  • On Verge Of IPO, WeWork Continues To Bulk Up Its Tech Capabilities

    BISNOW

    Coworking giant WeWork is planning to acquire SpaceIQ, a company focused on analytics software that makes more efficient use of office space. The deal is The We Company’s latest move into PropTech as it prepares for its initial public offering as soon as September. The acquisition is characteristic of WeWork, which has bought nine other companies since the first quarter of 2018, most of them with tech specializations. The deals diversify WeWork’s tech capabilities, but as an IPO approaches, t…

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  • Vacasa to Acquire Wyndham Vacation Rentals for $162 Million

    SKIFT

    Vacasa, the vacation rental management service, will buy Wyndham Vacation Rentalsfrom Wyndham Destinations, the companies said Tuesday. Vacasa will pay $45 million in cash at closing and will give Wyndham Destinations up to $30 million of equity interest in the newly formed company. Vacasa will pay the remaining balance in either seller financing or cash, for a total of $162 million in value. The deal is a milestone for the Portland, Oregon-based Vacasa and its founder and CEO Eric Breon. …

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