Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
NYTIMES
SAN FRANCISCO — Over the past decade, technology start-ups grew so quickly that they couldn’t hire people fast enough. Now the layoffs have started coming in droves. Last month, the robot pizza start-up Zume and the car-sharing company Getaround slashed more than 500 jobs. Then the DNA testing company 23andMe, the logistics start-up Flexport, the Firefox maker Mozilla and the question-and-answer website Quora did their own cuts.
THEREALDEAL
CBRE is planning to lay off more than three dozen employees in its New York office due to a shift in business priorities. The world’s largest commercial real estate services firm filed a notice with the state’s Department of Labor earlier this month stating it planned to let go 40 employees.
CRUNCHBASE
Previously Azevtec, the Golden, Colorado-based company has the ambitious goal of changing the way Fortune 500 companies “move products from the warehouse door to the road.” It has been quietly operating and working on its technology since June 2017. Outrider raised an $8.5 million seed round, led by NEA, in June 2018, and then a $44.5 million Series A led by 8VC in April 2019. Other investors include Koch Disruptive Technologies, Fraser McCombs Capital, Prologis, Schematic Ventures, Loup Venture…
BUILTNYC
On Wednesday, furniture rental service Feather announced it raised $30 million in a Series B funding round led by Cobalt Capital. This comes less than a year after the company’s $12 million Series A and brings its total equity funding to $46 million. High-quality furniture costs a lot of money, and its value goes down dramatically once it is used. And for people who move around a lot, buying nice furniture can be too much of a financial commitment.
THENEWSFUNNELd
Biproxi, the leading end-to-end commercial real estate platform trusted by the world’s largest commercial brokerages, today announced that it has acquired Officespace.com. The acquisition will allow Biproxi to consolidate all of its commercial real estate (CRE) data and listings on the Officespace.com website, which is already the second largest CRE listing site in the U.S. with over 550,000 listings, and is visited by over 350,000 buyers and tenants every month. In addition, OfficeSpace.com has…
BISNOW
WeWork, amid its rapid expansion in 2018, paid more than $2M to a female employee in the real estate division who was threatening to blow the lid off claims of rampant sexual harassment, pay discrimination and widespread drug use within the company. In a 50-page document obtained by Business Insider, the woman reportedly said she would sue the company and make a complaint to the Equal Employment Opportunity Commission.
SOILCONNECT
NEW YORK (February 25, 2020) – Soil Connect, an innovative digital platform connecting those who have soil with those who need it, today announced the launch of version 2.0 of its mobile and web-based app, bringing much-needed modernization to the transport and management of soil, aggregates and other materials. In conjunction with the launch, Soil Connect announced that its first institutional financing was led by Michigan investment group Common Sail, and disclosed that it has executed strateg…
GLOBEST
While EnerNOC’s Energy Intelligence Software business was a pioneer in energy management serving a wide variety of industries, its spin-off by former EnerNOC leaders, Hatch Data, is focused squarely on the $15 trillion commercial real estate market. This is a logical step, given the increasing concentration on environmental, social and governance issues that come with real estate ownership.
GLOBEST
Built, a construction finance technology platform, is taking aim at the pain points in construction lending, continually adding features to help streamline the process. To accomplish this goal the firm has brought on commercial lender executive Jim Fraser to help with the task.
BLOOMBERG
Dotted within the sparsely populated forests and tundra of northern Quebec is an existing technology that could hold the key to slashing greenhouse-gas emissions created by powering the dense cities and suburbs between Boston and New York, at the lowest possible price. All that’s needed is a handful of new transmission lines, according to researchers at the Massachusetts Institute of Technology, and the existing network of hydroelectric dams from the Hudson Bay to the St. Lawrence River could se…
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