What we're reading THIS WEEK
Our weekly #CREtech picks of trending headlines, handpicked by our CEO, Michael Beckerman
Facebook to build $750 million data center in New Albany
News - Cleveland Real Time News
Facebook will build a $750 million data center in the tony northeast Columbus suburb. At an announcement Tuesday, the social media giant said it will house thousands of servers enabling users to post photos, videos, 360-degree photos and even virtual reality content.
News - Bisnow
Last year, both commercial and residential real estate tech companies raised record funds, with investors pouring $2.6B into tech startups through 235 deals worldwide, according to CBInsights research. Major deals such as Homelinks’ $926M Series B fundraiser and OpenDoor Labs' $210M Series D fundraiser pushed the envelope, boosting VC’s real estate tech investment by 40% in 2016 from the previous year.
News - Business Insider
Many apartment hunters turn to real estate brokers, who charge a fee of 10% to 20% of annual rent for their services. Slap a 15% broker fee — the industry standard — on top of the $3,500median monthly rent for a one-bedroom apartment in Manhattan, and you're handing over nearly $10,000 right out of the gate, not to mention the security deposit or moving costs. Joinery, an apartment listing marketplace founded by former Google employees Julia Ramsey and Vianney Brandicourt, aims to fix this.
Blog - CB Insights
Our summer interns from UPenn and Columbia used the CB Insights platform to analyze emerging trends in real estate tech, blockchain, AI, retail tech, healthcare, and drones.
News - Commerical Property Executive
The Brooklyn Tech Triangle is among New York City’s leading innovation hubs, and Dumbo Heights is making its latest move to solidify that status.
Press Release - The Coup
Similar to Slack® the Berlin start-up HomeBeat.Live provides a powerful communication platform, but in this case dedicated to apartment buildings, enhanced with practical tools to increase transparency & safety.
News - Inman
Several events over the past 10 years have significantly changed the real estate landscape. The economy has reached all-time high after the Great Recession. A tech boom introduced new ways of working in real estate, and new consumer expectations. And a new generation of buyers has entered the market, forcing us to rethink the way we do business.
Press Release - PR Newswire
HomeLight, the world’s leading marketplace for connecting home sellers with the best real estate agents, announced today that it has raised $40 million in Series B funding. Silicon Valley-based Menlo Ventures led the round with participation from new investor Citi Ventures, and existing investors Zeev Ventures, SGVC, Crosslink Capital and Innovation Endeavors. HomeLight’s total venture funding since inception in 2012 is now $55 million. Tyler Sosin of Menlo Ventures will join HomeLight's board of directors. Venky Ganesan of Menlo Ventures and Dovi Frances of SGVC will join HomeLight’s board as observers.
Blog - Realconnex
Historically, anyone interested in purchasing and or leasing brick & mortar assets, i.e. buildings or #bricks, in a market area sought Beltway Broker Bob for their real estate needs, because “Beltway Broker Bob” scours his market for information. He gathers, hoards and makes calculations. He is the one with all the answers and, naturally, anyone interested in #bricks in his market go to him, business flourishes and returns are realized.
Press Release - The Content Funnel
The Content Funnel, the real estate industry’s leading content marketing platform owned by The News Funnel, has expanded their service offerings to include drone coverage and aerial photography. Drone coverage is in addition to The Content Funnel’s other services, including blog writing, social media management, content distribution, ebook/whitepaper creation, video production and more.
News - The Real Deal
WeWork hired former Apple, Google and Spotify executive Shiva Rajaraman to oversee its customer app and other software as chief product officer.
Blog - VTS
Technology is becoming increasingly important in all aspects of the commercial real estate industry. As that need grows, companies are forced to evolve to stay competitive. From finding the best ways to manage data across numerous systems to deciding whether it’s better to develop solutions in-house or buy from vendors, integrating data systems is a critical task for commercial real estate firms.
News - Bisnow
Last year, both commercial and residential real estate tech companies raised record funds, with investors pouring $2.6B into tech startups through 235 deals worldwide, according to CBInsights research.
Blog - Comly Wilson
A convergence of trends is compelling real estate service companies to become drivers of technology adoption across the industry. Whether due to increasing competition, pressure from owners and occupiers or improved technology, major service companies are shedding the “slow to adapt” label that is often associated with commercial real estate.
News - Albuquerque Business Journal
A little more than 10 years ago, Lower Merion and a small group of municipalities across the Philadelphia region jumped headfirst into a nationwide sensation.