Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THEREALDEAL
WeWork appears to be pulling back in two major markets after a chaotic close to the year. The number of leases it signed in New York and London slumped in the final quarter of 2019, Bloomberg reports, citing data from CoStar Group. The 64,000 square feet of space WeWork leased in Manhattan represented the lowest in more than five years. In London, its 49,000 square feet leased were the fewest since the 2016 Brexit vote.
THEREALDEAL
Spencer Rascoff, who co-founded Zillow and was its CEO for nearly a decade, is the ultimate tech industry insider. Rascoff’s newest venture then, doesn’t seem like such a leap. Nearly a year after he left as head of Zillow, Rascoff will launch a news site dedicated to covering the Southern California technology industry, with a focus on Los Angeles. Rascoff introduced the site, dot.LA, in a press release on Thursday. The Los Angeles Times first reported the story.
NYTIMES
Oyo, once one of India’s fastest-growing tech start-ups, is now rapidly scaling back. In recent weeks, Oyo, a budget hospitality company, has pulled out of dozens of cities, cut thousands of hotel rooms, started laying off employees and slashed other costs as it faced pressure from its biggest investor, the Japanese conglomerate SoftBank, to curb vast operating losses. The retreat has been swift and sweeping. In India alone, Oyo has lost more than 65,000 rooms — or about a quarter of what it had…
FUNNEL BY NESTIO
Nestio has just announced two exciting organizational enhancements to kick off 2020. Patrick Kennedy has joined the company as VP of Sales and Tyler Christiansen has been promoted to Chief Operating Officer. Patrick joins from Qualtrics, the Utah-based tech giant, and will be working alongside Tyler, industry vet Stephanie Brown and the company’s revenue team to grow the footprint of its national multifamiily product, Funnel.
CRETECH
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GLOBEST
There is a conundrum between fueling the $87 billion STR market and supporting innovation. The last decade might well be defined as the sharing economy decade. And, leading the pack are short-term rentals. Houston-based Dunyha founder Tanvir Aman recently shared insights on new approaches for short-term rentals and co-living.
CBINSIGHTS
Our map shows the top VC investing in tech companies in each state, from Andreessen Horowitz in California to Lerer Hippeau in New York. Although startups based in California, New York, and Massachusetts have traditionally accounted for the majority of VC tech investment in the US, VCs are spurring other hotbeds of innovation across the country. Using CB Insights data, we analyzed the most active venture capital firm investing in tech startups in every US state. Our analysis excludes debt de…
THEREALDEAL
A Silver Lake Partners-backed real estate data company that is sizing itself up against Moody’s Analytics has purchased a commercial broker software platform. The firm, Lightbox, is attempting to build out a real estate data and information service akin to the Bloomberg Terminal. And it has been on an acquisitions tear over the last year – in 2019, Lightbox acquired four firms, including EDR and ExactBid, at a cost of $200 million.
ZILLOW
Markets smack in the middle of the so-called “Silicon Prairie” – including Kansas City and Oklahoma City – top the list of those that may appeal to growing tech companies, followed by markets in the Midwest and the South that have the ability to draw talent and the tech companies looking to hire them. Eroding affordability and relatively lackluster quality of life put the nation’s more-stereotypical tech hubs – the San Francisco Bay Area, Seattle and/or New York – at or near the bottom of the ra…
SMARTCITIESWORLD
Masayoshi Son, founder of Japanese telecom and investment conglomerate SoftBank, has signalled his company’s interest in backing a new technology-infused capital city for Indonesia. Indonesia’s government plans to move the capital city from Jakarta due to overcrowding with over 10 million people, pollution and the fact that it is sinking. The new capital city will be located in a now-forested area of Borneo and the shift is due to be complete by the end of 2024.
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