Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
The Guardian
Facebook and Google are becoming carbon neutral businesses, joining competitors Apple and Microsoft in committing to put no excess carbon into the atmosphere, both companies have independently announced.
Business Wire
CHICAGO–(BUSINESS WIRE)–SpotHero, the digital parking leader in North America, announced today the signing of an agreement to acquire Rover Parking, a leading consumer parking app in Canada. This acquisition accelerates SpotHero’s market leadership position in North America, helping the company gain access to thousands of parking locations across Canada. The deal is expected to close in the fourth quarter of 2020.
Bisnow
Cadre founder and CEO Ryan Williams says that his investment platform is “back in growth-and-offense mode,” despite the coronavirus pandemic that is still gripping the world. The online commercial real estate marketplace has now launched an offering called Cadre Cash, which allows members who have already invested in real estate on Cadre’s platform to establish a savings account, for which Cadre is guaranteeing a 3% return, CNN reports.
Bisnow
Proptech, one of real estate’s most successful but least diverse sectors, is attempting to address its racial and gender inequality gaps by going directly to the source: money and how it should be invested.
The Real Deal
The Shenzen-based proptech firm plans to launch an initial public offering later this month, making it the first software-based Chinese proptech firm to debut on the Stock Exchange of Hong Kong this year, according to the South China Morning Post. Ming Yuan Cloud started taking share orders this week and trading is scheduled to begin on September 25.
Business Insider
Google announced Monday that it has offset all its historical carbon emmissions, claiming to be the first major company to do so. The tech giant’s CEO Sundar Pichai says it has offset all the carbon it has ever produced since it first launched in 1998. In a blog post on Monday, he said Google is aiming to run all of its campuses and data centers entirely on carbon-free energy by 2030, which is the company’s “biggest sustainability moonshot yet.”…
Wall Street Journal
For startups and venture-capital firms, investing used to be a decidedly low-tech exercise. They would try to draw attention at industry conferences, size each other up over long lunches, belly up to the bar or make their pitches during walks along San Francisco’s waterfront.
GlobeSt
Real time data is fast becoming not only a key tool CRE is using to fight the pandemic but it is also causing the industry to realize it is essential for ordinary tasks as well. One of the silver linings of the pandemic has been that it is turning out to be a catalyst for its widespread use, JLL posits in a new post.
Business Wire
SEATTLE–(BUSINESS WIRE)–Amazon (NASDAQ:AMZN) today announced the first recipients of investments from The Climate Pledge Fund: CarbonCure Technologies, Pachama, Redwood Materials, Rivian, and Turntide Technologies. The Climate Pledge Fund is a dedicated $2 billion venture investment program backing sustainable technologies and services that will help Amazon and other companies to meet The Climate Pledge—a commitment to be net-zero carbon by 2040….
Private Equity News
Blackstone Group said it is investing an initial $250m in ClearGen, a new portfolio company that will finance and own distributed sustainable energy infrastructure assets focused on commercial, industrial and institutional customers.
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