Latest Trends and Insights in Real Estate Technology

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  • Compass to lay off marketing, IT and M&A staffers

    THEREALDEAL

    Compass is laying off up to 40 employees across its IT, marketing and M&A teams, the company confirmed Monday. Sources said the move, which is taking place this week, is part of a broader reorganization as the SoftBank-backed company consolidates roles that service agents. The sources said Compass will create a new team called the “Agent Experience Team” to replace teams of employees who onboarded new agents, train them on the Compass platform and staff the IT help desk. The cuts are taking …

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  • Coworking Operator Embraces New Model As It Expands Across U.S.

    BISNOW

    Coworking firm Serendipity Labs is gearing up for expansion in 2020, and that growth looks a great deal different than its giant competitor, WeWork. The Rye, N.Y.-based company is pivoting to an entirely franchise-based model as it enters six new markets in 2020, adding 130K SF to its national coworking network, mostly in secondary and tertiary markets WeWork and other national operators are overlooking.

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  • Knotel Has ‘Profitability Very Much in Sight,’ CEO Says

    COMMERCIALOBSERVER

    In a conference call with reporters on Monday afternoon, Sarva said the four-year-old startup has “profitability very much in sight” and released some financial figures, providing a rare look at the firm’s inner workings. This marks the first time that Knotel — which was crowned a unicorn last year after it closed on a $400 million funding round — has invited outsiders to look at financial details about its company.

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  • RealPage Acquires Engagement Platform Modern Message

    DALLASINNOVATES

    RealPage is expected to retain Modern Message’s employees and operations but move the company from its current downtown Dallas location to RealPage’s corporate headquarters in Richardson, according to a statement. “Modern Message provides a unique boost to our already powerful resident engagement platform,” Jon Pastor, Senior Vice President of Consumer Solutions at RealPage, said in a statement. “The two solutions joined together enable our clients to give residents a rich rewards experience, bo…

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  • How Will PropTech Shape the Future of the CRE Workforce?

    GLOBEST

    Survey respondents, some 90% of global executives, think consolidation is needed for PropTech to prove its ROI and more effectively deliver on the needs of the commercial real estate industry. In fact, 33% of US executives predicted that consolidation will be well underway within the next 12 months. Specifically, areas of PropTech most likely to experience consolidation include property management, property transactions and listing services, and financing and lending firms.

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  • London Police Are Taking Surveillance to a Whole New Level

    NYTIMES

    London’s police department said on Friday that it would begin using facial recognition to spot criminal suspects with video cameras as they walk the streets, adopting a level of surveillance that is rare outside China. The decision is a major development in the use of a technology that has set off a worldwide debate about the balance between security and privacy.

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  • New Tech Tackles Worker Safety, But Hotels Have Been Slow To Adopt It

    BISNOW

    Traknprotect CEO Parminder Batra is glad that the emergency service device she created worked.  How did she know? Because recently, a man had pushed a housekeeper into a guest’s hotel room, Batra said, and she believed she was about to be assaulted. Equipped with a Traknprotect safety button, the housekeeper immediately used the device to call for help.

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  • CRE Startups Have Eased Off The Gas Pedal Despite Record Investment

    BISNOW

    No one is eager to be the next WeWork anymore. Startups in the real estate industry have spent the months surrounding the collapse of the coworking monster’s valuation adjusting their growth plans to focus on sustainability, rather than grabbing as much market share as possible, The Wall Street Journal reports. That change in strategy has come even as venture capital investment into real estate startups more than tripled from 2018 to 2019, when CRETech estimates that total equity and debt invest…

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  • Digital Brokerage SquareFoot Nabs Transwestern’s Jonathan Tootell

    COMMERCIALOBSERVER

    Proptech firm SquareFoot lured another real estate vet to join the digital brokerage, this time hiring Transwestern partner Jonathan Tootell to head up its New York City brokerage team, Commercial Observer has learned. Tootell joined SquareFoot at the beginning of the month and will become the company’s New York Market Lead where he will work to bring SquareFoot’s brokers “up to speed at what you would see at a traditional brokerage firm” and bolster its ranks, Tootell said.

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  • Bird raises $75 million and acquires escooter startup Circ

    VENTUREBEAT

    The micromobility market consolidated a bit today in what might be a harbinger of wider contraction. Coinciding with a $75 million extension to Bird’s series D funding round that brings its total raised to $350 million (up from $275 million as of November 2019), the Berlin- and Santa Monica-based electric scooter and bike company confirmed it has acquired escooter operator Circ (formerly Flash) for an undisclosed amount. Over 300 employees from Circ’s offices in Europe will join Bird in its ongo…

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