Hotel Giant Oyo Looks to Rewrite Contracts That Fueled Its Rise
Wall Street Journal
Oyo Hotels and Homes, which built itself into the world’s second-biggest hotel chain by total number of rooms, is phasing out an important tool that fueled its rise.
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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Redfin execs tighten belt and give agents a boost
The Real Deal
Agents at real estate brokerage Redfin are getting a reprieve and the CEO is forsaking compensation in light of the coronavirus pandemic. Glenn Kelman, the CEO of Redfin, said he will give up pay for the remainder of the year, according to a report in Inman. Agents at his company will get an increase in their fixed pay to make up for the drop-off in transactions. The members of its board also agreed to forego cash payments for their services, and all employees at the company’s headquarters will …
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Proptech Startup Sees Big Spike In Interest As Americans Turn To Their Homes For Cash
Bisnow
Proptech startup Noah has seen a massive spike in homeowners contacting it about releasing equity from their homes as a result of the impact of the novel coronavirus. The company, which this week rebranded from previous name Patch Homes, said that although it is too early to provide an exact figure, it has seen an increase of around 600% in the past week of homeowners seeking an estimate of their home value.
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Pi Labs launches its first remote business accelerator cohort
Property Week
The fund is hosting five startups in its intensive 15-week pre-seed programme, which has been running since 2015. The venture capital fund gives the firms funding and connects them with experts, strategic advice, and prepares them to scale their business.
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Leading VCs discuss how COVID-19 is impacting real estate & proptech
TechCrunch
Several months ago, we surveyed more than 20 leading real estate VCs to learn about what was exciting them most in the real estate tech sector and hear their opinions on proptech trends like co-working, flexible office space and remote office space.
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Market players won’t find buyers on the secondary market — yet
TechCrunch
Seasoned secondary players were expecting it. As the markets began to plummet in recent weeks, shareholders who’d turned down earlier offers to buy this or that holding were suddenly curious to see if those interested parties might still be interested. Alas, it was too late. The market was moving too fast. It still is.
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CRETech/PropTech 2.0
ash1
In my lifetime (55 years), I have never seen anything like these times we are living in today. And trust me, I have seen A LOT! The fear, both real and imagined, the threat to people’s lives especially those most vulnerable, the social upheaval, the almost certain devastating economic toll has collectively simply taken my breath away. Thankfully, I have a wonderful and healthy family to be grateful for and my own meditation practice to rely on, which has been tested lately like never before :). …
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Helsinki takes open data approach to carbon
PLACETECH
The capital of Finland has opened the energy consumption data of its public buildings to application developers to help it become a carbon-neutral city. How much electricity and district heat were consumed in a local school or library yesterday? The new Nuuka Open API, now open for testing, can be used to retrieve hourly electricity and heat consumption data for approximately 1,700 service buildings in the city of Helsinki. The ambition is to accelerate Helsinki’s journey towards becoming a carb…
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Facing disaster, corporate venture capital to undergo key stress test
PITCHBOOK
After driving much of the venture capital market’s hyper-growth in recent years, corporations are poised for a decisive stress test of their zeal for funding startups. Heading into 2020, it wasn’t unreasonable to forecast another record year for VC financing involving corporate venture capital arms, such as those of titans Intel, Salesforce and Google. But that was before the coronavirus brought the world economy to a standstill.
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Coronavirus Shows Cash Is King, Even for Biggest U.S. Companies
WSJ
The fast-spreading coronavirus has prompted even the biggest U.S. companies to cut their spending and bolster their balance sheets, proving once again how cash is king, especially in times of crisis. After a decadelong U.S. economic expansion, not every company has entered this crisis with the same cash cushion.
