The We Company CEO Adam Neumann (Credit: Getty Images and iStock) In providing a window into the We Company’s financial position ahead of a planned initial public offering, the $47 billion company reported $728 million in revenue, more than double that of the first quarter of 2018. Its net losses totaled $264 million, narrowing from […]
CompStak raises $12M in round backed by IA Capital
CompStak CEO Michael Mandel UPDATED, 12:50 p.m., May 15: CompStak, the real estate analytics firm that crowdsources leasing and investment-sales comps from brokers, has raised the another $12 million, the company told The Real Deal Wednesday. The analytics firm has now raised $28 million since it launched in 2011. The latest Series B round was […]
The We Company launching $2.9B investment fund with backing fromIvanhoe Cambridge
Ivanhoé Cambridge CEO Daniel Fournier and WeWork CEO Adam Neumann (Credit: Getty Images and Ivanhoé Cambridge) The We Company’s latest play has been revealed: become its own landlord. The $47 billion flexible-office space startup has launched a private real estate investment arm, ARK, which will buy property and fill it with WeWork services for its […]
Millennials are borrowing from startups to pay the rent
Median rent nationally hit an all-time high of $1,006 a month in the first quarter of 2019 (Credit: iStock) Who needs payday lenders and their sky-high interest rates when startups are more than happy to issue loans to millennial renters just scraping by in the share-economy? StayTony Domuso, Till and Uplift are among the startups […]
Owner of NYSE, MERS to acquire property database firm
(Credit: iStock) Intercontinental Exchange (ICE), the company which owns the New York Stock Exchange, has a commanding role in stock markets worldwide. But now the Atlanta-based firm appears to be angling for a similar position in U.S. mortgage markets. ICE announced on May 1 that it would pay $335 million to acquire Simplifile, the nation’s […]
British Columbia has a massive real estate money laundering problem: report
Vancouver, British Columbia (Credit: iStock and Unsplash) British Columbia, home to Vancouver’s hot real estate market, has a rampant money laundering problem, and it centers on real estate. More than $5 billion — C$7 billion — was laundered in the Canadian province, with around $3.7 billion of that — C$5 billion — funneled through real […]