Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
NEW YORK TIMES
SAN FRANCISCO — As the waitress approached the table, Sam Altman held up his phone. That made it easier to see the dollar amount typed into an investment contract he had spent the last 30 days negotiating with Microsoft.
TECHCRUNCH
Amazon this morning announced its intentions to open a pair of robotic-powered fulfillment centers in Ohio. The two warehouses — both larger than 700,000 square feet — will be located in the north of the state, in Akron and Rossford, respectively. They’ll function much like Amazon’s other shipping centers, providing a collaborative workspace between human employees and the company’s growing army of shipping robots. You can get a better look at how that goes down in this piece from our recent v…
MODERNE VENTURES
CHICAGO, July 18, 2019—Moderne Ventures, a venture investment fund focused on technology and innovation, announced today the names of the seven companies accepted into its 2019 Midyear Passport Program, a 7-month industry immersion program designed to help companies accelerate growth and build meaningful partnerships within Moderne’s multi-trillion dollar industries.
SOUTH CHINA MORNING POST
Fifth Wall Ventures, a Los Angeles-based venture capital firm, plans to invest part of the proceeds from its new US$503 million property technology fund on start-ups in Asia, reflecting the first time it has channelled capital beyond US shores. The firm announced it had closed Fund II to new investors earlier this month after exceeding its initial funding target of US$400 million, drawing participation from 50 companies, including mainland developer China Vanke.
GLOBEST
NEW YORK CITY—There’s a Big Bang Theory at Reonomy. It’s that understanding space of the galaxies in the universe is similar to understanding space on the surface of the earth—at least in terms of creating models to rapidly compare, analyze and reconcile massive amounts of data. (See slideshow at the bottom of the article.)
NATIONAL REAL ESTATE INVESTOR
New York is seeing major tech companies expanding their presence in the city. The New York Times and Wall Street Journal have both reported that Google, Facebook, Apple, Uber and Amazon have plans to expand in the New York metro region. Google is investing $1 billion in a second Manhattan office campus in Hudson Square, according to Ruth Porat, CFO and head of corporate real estate with Google parent company Alphabet. The tech giant plans to double its local workforce over the next decade….
COMMERCIAL OBSERVER
Los Angeles-based Fifth Wall Ventures has raised $503 million to invest in technology companies targeting the real estate sector, the company announced Wednesday. The fund is the second for the proptech-focused venture capital firm, which has financed companies like Redfin-rival OpenDoor, flex-space firm Industrious, and data company VTS. The new round brought in more than double the firm’s first raise of $212 million in 2017, and attracted both domestic and global capital….
THE SEATTLE TIMES
In recent years, new office designs have encouraged employees to get moving. Cafes and lounges beckon workers when they need a break. Open staircases spur them to climb floors rather than take the elevator. Sit-stand desks offer them a chance to stretch while continuing to work.
GLOBEST
RICHARDSON, TX—RealPage Inc. has introduced RealPage Market Analytics, a lease transaction-driven market research platform that reportedly provides 100% visibility into performance data that is critical for investment decisions. The platform will launch today at the company’s RealWorld conference in Orlando. The next-generation platform was developed by the RealPage asset optimization team. The analytics platform combines RealPage Axiometrics and MPF Research, and is powered by RealPage’s 13 …
WSJ
MUMBAI—The 25-year-old founder of Oyo Hotel & Homes, an India hotel brand, has led a $2 billion share buyback in the company, which has transformed the country’s budget-hotel industry and gone global. Oyo Chief Executive Ritesh Agarwal is buying part of the shareholdings of early investors Sequoia Capital and Lightspeed Venture Partners. The buyback, which is still subject to shareholder and regulatory approvals, will be through a Cayman Islands company called RA Hospitality Holdings, and…
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