Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CRETech
Compass laid off 15 percent of its staff on Monday, The Real Deal has learned. With the economy reeling from the coronavirus pandemic, the Softbank-backed brokerage said it was projecting a 50 percent drop in revenue over the next six months.
THEREALDEAL
StreetEasy is slashing fees for New York rental agents. In an email to agents Thursday, the Zillow-owned portal said it was cutting prices in response to the “ever-changing circumstances” sparked by the coronavirus pandemic, which is wreaking havoc on the global economy.
BUSINESSCLOUD
Leaders in the real estate sector have called on the industry to adopt PropTech more quickly. A shift towards collaboration and transparency is very much in evidence in the finance sector thanks to open banking and the rocketing FinTech scene – but property has been slower to embrace change. Discussing the tenant experience and PropTech at a recent roundtable held by Round Hill Ventures, there was agreement that the real estate industry is still not set up for innovation. The event took place at…
WSJ
Some WeWork directors are gearing up to fight SoftBank Group Corp. 9984 18.61% ’s move to back away from part of its bailout of the shared-office provider, presaging what could be a fierce internal battle just as the startup grapples with fallout from the coronavirus pandemic.
VENTUREBEAT
This week, nearly every major company developing autonomous vehicles in the U.S. halted testing in an effort to stem the spread of COVID-19, which has sickened more than 250,000 people and killed over 10,000 around the world.
THEREALDEAL
It’s a millennial’s dream: traveling the world while working, drinking, exploring and meeting like-minded nomads in chic hotels. That’s what Selina is selling. Backed by high-profile investors including WeWork co-founder Adam Neumann, the London-based startup operates dozens of hostels with co-working space in vacation spots across the globe.
NEWYORKCITYBIZLIST
Alpha’a, the B2B, crowd-sourced and purpose-driven PropTech fine art sales platform, has advanced to the second round of Meet The Drapers after winning in its first appearance on the popular tech startup investment television show
CNBC
Airbnb is fielding “significant” interest from investors even as the coronavirus crisis hits the travel and hospitality industry especially hard, two sources familiar with the matter told CNBC.
SHADOWVC
While I continue to be concerned about daily events and signals, the majority of my conversations are now focused on the “new norm.” It may get worse in the near term, but none of us believe that this will be forever. There eventually will be a new norm, and its fabric will have new constraints and new opportunities. Much like the scar tissue that developed for many of us post 9-11, the generational trauma of the pandemic will touch generations today and in the future. But we, also, can touch fu…
EUSTARTUP
UK startup Pupil, a leader in AI-driven real estate measurement, has secured a fresh round of funding of €14.9 million, bringing the total raised since the company was launched in 2016, to €24.5 million. This follows on from an oversubscribed angel funding round and values the company at approximately €93.2 million.
Subscribe to CREtech to get our monthly newsletter curated by our editors and special event discounts and announcements.
or sign in if you're already a member