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Less than a decade ago, startups valued at $1 billion or more were so rare so mythical even that the tech world took to calling them unicorns. In 2013, there were just 39 such magical creatures, a number that has since surged to more than 600.
Residential real estate, a longtime tech desert, had but a couple over the years.
But in the last eight months, four proptech startups focused on the residential industry have hit valuations of $1 billion or more. Three others – Airbnb, Compass and Lemonade – have gone public. Another 10 have plans to merge with blank-check firms, in deals valued collectively at $38.5 billion. Investment in technology aimed at streamlining how we buy and sell homes has exploded. Buyers can view homes without stepping foot in the property, get approved for a mortgage online, obtain title insurance in minutes and notarize documents remotely. iBuyers are enticing customers to sell their homes lock, stock and barrel with