Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THE REAL DEAL
In “The Big Short” – the 2015 film about the financial crisis – actor Steve Carell plays a character based on noted short seller Steve Eisman, who made hundreds of millions of dollars betting against collateralized debt obligations laden with subprime residential mortgages.
CREtech
There are clear signs retail is undertaking a transformation like we’ve never seen before. The Financial Times’ article “Death of the high street weighs on landlords round the world,” reports that compared with last year, “rents agreed in UK shopping centres in the first quarter of 2019 dropped by a third,” and that in the worst affected centers rents “plunged by 40 to 60 per cent in just three months.” Meanwhile in the United States, “retailers have announced more than 6,900 store closures so f…
THE REAL DEAL
Proptech entrepreneur Ari Teman is facing Federal bank fraud charges after he was arrested earlier this month for allegedly cashing hundreds of thousands of dollars of counterfeit checks from companies that had worked with his virtual doorman business. Teman – creator of the GateGuard virtual doorman and SubletSpy, a company that helps landlords search for illegal Airbnb listings – is accused of depositing 27 counterfeited checks totaling $297,000 at a bank branch in South Florida, according …
TECHCRUNCH
WeWork chief executive officer Adam Neumann is already rich, but soon all of the early employees and investors of the co-working giant will be too. The business, now known as The We Company, has accelerated its plans to go public, according to a new report from The Wall Street Journal. WeWork is expected to unveil is S-1 filing next month ahead of a September initial public offering. WeWork declined to provide comment for this story….
TECHCRUNCH
Placed against our sci-fi expectations, robotics have largely fallen short — with one notable exception. In 2019, automation is a mainstay in factories and warehouses. There the technology has been proven out in the field, and VCs are happy to invest millions. This morning Fetch Robotics announced a $46 million Series C raise. The round, led by Fort Ross Ventures, brings the San Jose-based warehouse automation company’s total funding up to $94 million. New investors CEAS Investments, Redwood Te…
THE REAL DEAL
Real estate conglomerate Realogy, which has seen a steep drop in stock prices and a shrinking market cap, is turning to Amazon for a boost. Realogy announced Tuesday that it had entered a partnership with Amazon dubbed Turnkey, a new homebuying program through which homebuyers will receive up to $5,000 in complimentary Amazon products and services on move-in, courtesy of the brokerage giant….
VENTUREBEAT
Millions of roads around the world have yet to be mapped, and that’s a real problem, particularly in the developing world. Missing map data can harm disaster response, community planning, and local economies. And while government-run and tax-funded projects like the U.K.’s Ordnance Survey have produced enormous corpora, they’ve largely failed to freely and widely distribute them.
TECHCRUNCH
Lyft is offering to the public a set of autonomous driving data that it calls the “largest public data set of its kind,” containing over 55,000 3D frames of captured footage hand-labeled by human reviewers, data collected by seven cameras and as many as three lidars depending on the car used, plus a drivable surface map and HD spatial semantic data that corresponds to the captured info to provide context to researchers….
CRUNCHBASE NEWS
There’s so many players in the real estate tech game, it’s hard to keep up. (We’ve tried in numerous pieces such as this one). Now an Austin upstart called Homeward has entered the crowded scene in an ambitious attempt to take on bigger established players with its offering, and it’s just raised $4 million in equity funding and $21 million in debt funding to help it in its mission….
CREtech
The Largest Commercial Real Estate Conference of 2019 Coming To Brooklyn For The First Time New York, NY (July 24, 2019) — CREtech (cretech.com), the leading event, content and connectivity platform for the commercial real estate technology industry has announced that Fifth Wall’s Co-Founders Brendan Wallace and Brad Greiwe will deliver a Keynote presentation at the largest CREtech event of 2019 in New York. Their presentation will span the history of Fifth Wall, their current investment focus …
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