The We Company CEO Adam Neumann (Credit: Getty Images and iStock) The We Company’s annual losses doubled to nearly $2 billion in 2018, the company said on Monday. The co-working giant’s revenue also more than doubled, to $1.82 billion, but heavy spending toward worldwide expansion led to losses of $1.93 billion for the year, the […]
Startup that offers alternative to home equity lending raises $122M
Point CBO Eoin Matthews (Credit: Point and iStock) A startup that buys equity in homes and then offers to sell it back to residents has raised $122 million. Point, a Palo Alto-based firm, said Wednesday it raised $22 million in a Series B funding round led by Prudential Financial and DAG Ventures, according to Inman. […]
Virtual brokerage eXp’s revenue jumps 220% to $500M
Glenn Sanford (Credit: Twitter) After more than doubling its agent count, virtual brokerage eXp Realty’s revenue soared 220 percent in 2018 — hitting a “record” $500.1 million, the company reported Monday. But its net loss — $22.4 million — remained relatively steady compared to 2017’s net loss of $22.1 million. “In the past year, eXp […]
Brookfield’s $4.7B Oaktree deal could bolster firm for downturn
From left: Bruce Flatt, CEO of Brookfield Asset Management and Howard Marks, co-chairman of Oaktree Brookfield Asset Management is already one of the largest alternative asset managers in the world. And its latest diversification play could help it during a downturn. This week, the Toronto-based giant paid $4.7 billion for a 62 percent stake in […]
New York DA indicts Manafort on pardon-proof mortgage fraud charges
Paul Manafort (Credit: Getty Images) Former Trump campaign chairman Paul Manafort was indicted in Manhattan on Wednesday on mortgage fraud charges, the same day a federal judge increased his overall jail sentence to 7.5 years. District Attorney Cyrus Vance Jr. charged Manafort with a scheme to defraud banks for million of dollars in loans, including […]
Realogy taps J&J exec as new CFO amid cost-cutting push
Realogy CEO Ryan Schneider and CFO Charlotte Simonelli (Credit: LinkedIn) As it looks to whittle expenses and reduce debt, Realogy has tapped Charlotte Simonelli — a 47-year-old former executive at Johnson & Johnson — as its new chief financial officer and treasurer. Simonelli, who will report to CEO Ryan Schneider, is set to start March […]