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Divvy Homes' $1B Sale Leaves Some Shareholders Empty-Handed

Divvy Homes' $1B Sale Leaves Some Shareholders Empty-Handed

The recent $1 billion acquisition of rent-to-own startup Divvy Homes has sparked concerns among shareholders, as reports indicate that some may not receive any payout. Founded in 2016 and backed by notable investors, Divvy reached a peak valuation of $2.3 billion but is now selling for half that amount. CEO Adena Hefets informed stakeholders that after settling debts and costs, common shareholders are unlikely to see returns. The decision to sell was difficult, driven by challenging market conditions and rising interest rates, which forced the company to make significant layoffs.

Created at: January 23, 2025 2:30am

Divvy Homes Acquired by Brookfield for $1 Billion Amid Market Challenges

Divvy Homes Acquired by Brookfield for $1 Billion Amid Market Challenges

Divvy Homes, a rent-to-own startup, has been acquired by a Brookfield Properties division for approximately $1 billion. This acquisition comes after Divvy's valuation peaked at $2.3 billion in 2021. The deal is expected to finalize by mid-February. Divvy, founded in 2016, has faced difficulties in the real estate market, particularly due to rising mortgage interest rates, leading to multiple layoffs. The company has helped create around 2,000 homeowners through its innovative model. Notable investors include Tiger Global Management and Andreessen Horowitz.

Created at: January 22, 2025 10:00pm

Struggles Mount for Proptech Startups Divvy Homes and EasyKnock

Struggles Mount for Proptech Startups Divvy Homes and EasyKnock

Divvy Homes and EasyKnock, once promising proptech startups, are facing significant challenges in the current high-interest-rate environment. Investment in U.S. real estate startups plummeted from $11.1 billion in 2021 to $3.7 billion last year. Divvy Homes is reportedly being acquired by Maymont Homes, while EasyKnock has abruptly shut down following multiple lawsuits. Both companies, which operated on similar rent-to-own models, struggled under the weight of rising interest rates and mounting debt. Analysts expect further difficulties for the real estate fintech sector in 2025.

Created at: January 18, 2025 4:30pm

Ken Howery: Tech Mogul Leading Trump's Greenland Acquisition Dream

Ken Howery: Tech Mogul Leading Trump's Greenland Acquisition Dream

Ken Howery, appointed by Donald Trump as the U.S. ambassador to Denmark, is at the forefront of the controversial attempt to buy Greenland. A notable member of the 'PayPal Mafia' and co-founder of Founders Fund, Howery has significant tech investment experience. Despite his background, both Denmark and Greenland have expressed disinterest in selling. Greenland's Prime Minister stated, 'We don’t want to be Americans.' Trump claims the acquisition is crucial for national security, highlighting Greenland's potential natural resources. Howery's endeavor resembles a political drama amidst skepticism.

Created at: January 17, 2025 3:00pm

CBRE Acquires Industrious for Over $800M, Signaling Co-Working Resilience

CBRE Acquires Industrious for Over $800M, Signaling Co-Working Resilience

CBRE has announced its acquisition of co-working startup Industrious for approximately $400 million, bringing the total valuation to over $800 million. Founded in 2013, Industrious has seen significant growth, with a 24x increase during Riverwood Capital's investment period. Unlike WeWork, which recently filed for bankruptcy, Industrious has focused on partnerships rather than capital-intensive leases. The deal will create a new business segment at CBRE, enhancing workplace experience and operations. Industrious CEO Jamie Hodari will lead this new unit, aiming to expand the company's reach and resources.

Created at: January 14, 2025 7:00pm

Beams Secures $9M Series A to Transform UK Home Renovation

Beams Secures $9M Series A to Transform UK Home Renovation

UK startup Beams has successfully raised $9 million in Series A funding, bringing its total funding to $13.3 million. The funding round, led by ETF Partners, aims to enhance Beams' innovative pricing engine and managed marketplace for home renovations. This technology predicts project costs, compares them to over 6,000 past projects, and utilizes 3D scans for detailed home modeling. With a market potential of £380 billion in Europe, Beams seeks to modernize the renovation process and expand its services across the UK and Europe, addressing inefficiencies in the sector.

Created at: January 10, 2025 7:30am

Airbnb's Co-Host Network Revolutionizes Property Management for Hosts

Airbnb's Co-Host Network Revolutionizes Property Management for Hosts

Airbnb has launched a Co-Host Network aimed at assisting hosts with multiple listings. This initiative connects hosts with top-rated co-hosts who specialize in property management, enhancing efficiency and profitability. The network allows hosts to hire experienced co-hosts for various tasks, including creating listings and managing guest communications. With an average host managing seven properties, this service offers a potential for increased earnings. Additionally, Airbnb is exploring AI tools for improved support and enhanced guest experiences, solidifying its commitment to innovation in the rental market.

Created at: October 16, 2024 3:30pm

Table Space Targets $2.5B Valuation for Upcoming IPO in India

Table Space Targets $2.5B Valuation for Upcoming IPO in India

Table Space, an Indian managed workspace provider, is planning an IPO aimed at achieving a valuation of $2.5 billion or more next year. The startup, founded in 2017 and based in Bengaluru, has engaged Axis Securities as its bookrunner for the offering. Currently valued at approximately $550 million, Table Space operates over 60 centers across six cities, serving major corporations like Apple and Google. The company anticipates nearly doubling its real estate portfolio while projecting annual revenue to hit $600 million by March 2027, amid a robust demand for flexible office spaces in India.

Created at: October 14, 2024 8:30am