Latest Trends and Insights in Real Estate Technology

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  • SoftBank’s Vision Fund 2 Plans to Begin Investing as Soon as Next Month

    WSJ

    TOKYO—The sequel to the world’s biggest technology investment fund could start investing billions of dollars as early as next month, SoftBank Group Corp. 9984 -2.72% said as it reported strong growth in its original fund. SoftBank on Wednesday said its profit from the existing Vision Fund jumped 66% in the April-June quarter from a year earlier. Unrealized gains from Indian budget hotel booking company Oyo, San Francisco-based workplace-messaging service Slack Technologies Inc.and food-delive…

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  • Off-Site Building Is ‘Ripe’ For AI. But Are These The Robots You’re Looking For?

    BISNOW

    If a lack of innovation is to blame for stagnating U.S. construction productivity over the last half-century, off-site builders — and some of their AI partners — think they may have the solution. Around the country, prefabrication companies of different scopes and specializations are trying to boost their factory environments by using artificial intelligence.

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  • WeWork Wanted to Land Video Deals With NBC and Martin Scorsese

    BLOOMBERG

    For the past two years, WeWork Cos. has spent more than $40 million to host a series of startup pitch competitions around the world. The real estate company asks contestants to pitch apps or creative projects to celebrity panels of judges and compete for cash prizes, in between musical performances from the likes of the Red Hot Chili Peppers. This year, it hoped to go much bigger.

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  • As Coworking Conquers Markets, Landlords Wonder How Much Is Too Much

    BISNOW

    WeWork, which has grown from a one-floor lease in SoHo to New York City’s largest private office tenant in the span of nine years, is expected to go public next month, targeting a $3.5B raise. But amidst the hype of the highly anticipated initial public offering, the commercial real estate community continues to wrestle with how to hedge against the exploding coworking and flexible workspace sector, and how to capitalize on it.

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  • Zillow’s bet on iBuying boosted revenues to $600M, but it still lost $72M

    THE REAL DEAL

    Zillow Group’s bet on instant homebuying boosted its second-quarter revenues 84 percent to $599.6 million, the company said Wednesday. Revenue for Zillow Offers — which debuted last year — totaled $248.9 million for the quarter. Meanwhile, Zillow Mortgages revenue rose 40 percent to $26.9 million. In a statement, co-founder and CEO Rich Barton described demand for Zillow Offers as “incredibly impressive” and said the program is on track to hit an annualized run rate of $1 billion in revenu…

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  • Convene is the latest co-working startup to plant flag in London

    THE REAL DEAL

    An under-construction skyscraper in London was the battleground for a trio of well-capitalized flexible office space firms in growth-mode. New York-based Convene, a startup that partners with commercial landlords to offer meeting spaces and amenities in office buildings, ultimately won out. The firm signed a 100,000-square-foot lease at 22 Bishopsgate in central London, the firm’s chief executive Ryan Simonetti told The Real Deal. It will be the firm’s first international location.

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  • Google Maps AR navigation launches in beta for compatible iOS and Android devices

    VENTUREBEAT

    The AR feature in Google Maps that Google first demoed more than a year ago — a heads-up mode called Live View that provides directions from phones’ cameras in real time — will roll out in beta in the coming weeks for compatible iOS and Android devices, the company today announced. Live View was previously only available to users who were enrolled in the Google Maps beta and were level 5 or above in Google’s Local Guides program, and to owners of Pixel 3a, Pixel 3a XL, and older Pixel smartphone…

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  • How technology is fueling the rise of flexible office space

    JLL

    For employees in increasingly tech-enabled offices, the idea of spending every working day sitting at the same desk is rapidly becoming outdated. From workplace apps to improved video conferencing, digital tools that help teams collaborate online are facilitating a rise in flexible and remote working. Meanwhile, inside offices, the growing use of embedded technology is ushering in a similarly flexible approach to floor space. Sensors that track motion can log when desks, meeting rooms or c…

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  • Airbnb settles federal lawsuit against Miami Beach over business and resort tax disclosures

    THE REAL DEAL

    Airbnb has settled a federal lawsuit it brought against the city of Miami Beach, and both sides are claiming victory. The vacation​ rental tech company sued Miami Beach in late 2018, after the city commission passed new regulations. Those measures require Airbnb ​to ​display the resort tax account and business tax receipt numbers for each listing by their hosts within zones that allow short-term rentals.

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  • Construction Startup Katerra Attracts Former Oil-Industry CEO

    WSJ

    A Silicon Valley-based construction startup has hired a former oil-industry chief executive, a sign that its rapid growth is starting to attract prominent talent from other industries. Katerra Inc. has brought in Paal Kibsgaard as its chief operating officer, the Menlo Park, Calif., company said. Mr. Kibsgaard was until recently CEO of Schlumberger Ltd. , the world’s largest oil-field-services company….

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