World’s first NFT “digital house” sells for over $500K
The Real Deal
World’s first NFT “digital house” sells for over $500K. Krista Kim’s “Mars House,” a non-fungible token of a virtual home, sold for Ethereum
Latest Trends and Insights in Real Estate Technology
Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
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WATCH NOW: Exceeding the Expectations of the Modern Investor presented with AppFolio
CREtech+
An investment management firm is only as successful as its investor relationships, and investor expectations have changed. Investors receive on-demand experiences with other financial services, from insight-packed dashboards of their retirement accounts, to online payment systems, to having the stock market in their pocket. Join this discussion of experts to hear how you can optimize your business to impress and retain investors.
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WeWork To Go Public At $9B Valuation In Starwood-Backed SPAC Deal
Bisnow
Coworking company WeWork announced Friday that it is finally expected to become a public company in a Starwood Capital-backed special-purpose acquisition company deal that will see it initially valued at about $9B….
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ESG podcast: “Innovation and investment are aligned,” says A/O PropTech
Property Week
A/O PropTech has raised a €250m evergreen fund to invest in tech companies transforming European real estate and Greg Dewerpe, its founder, is joined by Cem Savas, who heads up one its portfolio firms, Plentific, known for disrupting asset management across the housing association sector.
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The remote revolution spreads beyond tech
AXIOS
At first, it was just the Silicon Valley tech giants embracing remote work forever. Now, firms in other industries are jumping on board. Driving the news: The Ford Motor Company is offering permanent telework as an option to all of its white-collar workers who are able to complete the tasks of their jobs remotely. That’s about 30,000 of its 186,000 employees, per CBS….
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Modiv Acquisition Corp. (“MAC SPAC”) Announces Filing of Registration Statement
Business Wire
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Modiv Acquisition Corp. (“MAC SPAC”) today announced the launch of its initial public offering of 10,000,000 Units. MAC SPAC has applied to have its Units approved for listing on the NYSE American under the symbol “MACS.U.” Each Unit will consist of one share of MAC SPAC’s common stock and one redeemable warrant to purchase one-half share of common stock.
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WhyHotel pops up again — and it plans on growing more in 2021
Bizjournals
Pop-up hotel and hospitality operator WhyHotel Inc. is official launching in two more locations — but plans to expand dramatically in 2021, its CEO says. … While the spread of Covid-19 wrought havoc among the hospitality industry, WhyHotel’s pop-ups maintained 85% occupancy during the pandemic, he stressed.
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Compass aims for $10B+ market valuation
Housingwire
Residential brokerage Compass took another step toward becoming a publicly traded company Tuesday, declaring it intends to sell common stock at a share price of between $23 and $26. The New York City-headquartered company will offer 36 million Class A common stock shares to the public, according to the registration statement filed with the Securities and Exchange Commission, plus another 5.4 million shares to the investment banks underwriting the initial public offering….
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Flexible Offices Will Be Crowded After Covid-19
Wall Street Journal
Companies such as WeWork—which is in talks to go public, The Wall Street Journal reported in January—and Regus IWG -0.98% owner IWG had a harsher pandemic than regular office landlords. A risky business model where they sign long leases and sublet space on short-term contracts meant that many of their tenants bailed out quickly. WeWork’s global occupancy rate dropped to 47% at the end of 2020 and it lost $3.2 billion, according to an investor pitch seen by the Financial Times. IWG also racked up…
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Modular housing startup Veev raises $100M to build homes faster, cheaper
The Real Deal
The startup, which uses prefabrication and 3D printing, raised the new cash on TASE UP, a platform launched by the Tel Aviv Stock Exchange that lets tech companies receive funds from institutional investors while remaining privately held. Veev is the first company to raise money on the platform. …
