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Why Software Is Eating the Home: The Residential Proptech Explosion

Share via Shortlink 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

Douglas Elliman Parent Company Invests In Third Proptech Startup

Inman Connect Vector Group, parent company of Douglas Elliman, and its investment vehicle New Valley Ventures have invested in yet another proptech company since launching at the beginning of March, the company announced on Thursday. The new investment will be in Humming Homes, a New York-based tech-enabled home management service founded by Adeel Mallick (CEO), Kyle Carnes (head of operations) and Kevin Ryan (chairman of the board). Previously, New Valley Ventures had invested in venture capital firm Camber Creek and lead-to-close agent workflow platform Rechat. Much like property management services for rental properties, Humming Homes provides a similar service for single-family homeowners, providing “end-to-end home management” with one dedicated home manager serving as a point of contact for all communications.

Teal-Jones wins court ban on Fairy Creek old-growth blockades

Fairy Creek old-growth activists are facing arrest after a logging company won a court order banning blockades defending some of the last tracts of ancient rainforest on southern Vancouver Island. Describing the protesters as “misguided,” B.C. Supreme Court Justice Frits Verhoeven granted forestry company Teal-Jones an injunction on Thursday prohibiting roadblocks at various entry points to its Tree Farm Licence (TFL) 46 near the community of Port Renfrew. But Fairy Creek supporters say the court order only fuels the fight to save the pristine forests and giant trees growing in the headwaters of Fairy Creek, as well as remaining groves near Gordon River, Camper Creek and in the upper Walbran Valley.

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