just the past five trading sessions. david: all right, vixx is always interesting to note, and whenever it is at a low which, indeed, the vxx is, now, this is remember, the vixx you can t trade on, the vxx you can. it s a volatility index, it hit a 52-week low today. some people would say perhaps that s too low, we ll have to be watching that very carefully. liz: just not a lot of fear in the market. wheat, we should look at that. a huge mover in the commodity pits. this rally hits a two week high, and the move sent jjg higher. the etf investment, everything from wheat to soybeans to corn did well today. david: all right, well, the white house turning to small business other thans for input on the debt crisis. input on the debt crisis. coming up, one of the business owners who was at the meeting. liz: plus, the powerball jackpot up to a record $500 million. we will ask new jersey lottery executive yes, new jersey participates in the powerball carol headinger about the
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Why Procore’s IPO is back on, View’s foggy Nasdaq debut
Plus, VTS’ $100M bet on return-to-office National / TRD Staff
Ten months later, the public offering appears to be back on the table.
Bolstered by a housing boom and uptick in construction, Procore filed an updated S-1 registration statement on March 2. In the filing, the company said its revenue grew 38.4 percent last year to $400.3 million.
Its customer base is also on the upswing: Procore had 10,166 customers as of Dec. 31, 2020, up 20 percent from the year prior.
Howard Lorber and Steve Witkoff (Getty, iStock)
Frequent business partners Howard Lorber and Steve Witkoff have a new project, but it’s not a condo or hotel. It’s a SPAC.
The developers’ Ocean Drive Acquisition Corp. is looking to raise $250 million from investors to take a proptech startup public, according to a regulatory filing. In addition to Lorber and Witkoff, asset manager Monroe Capital is sponsoring the blank-check company.
“Technology has become a strategic imperative as [real estate] owners seek ways to increase the efficiency of their assets,” the filing said. “Our management team has specific experience and knowledge regarding the real estate industry and companies that provide technological solutions and innovation.”
Beyond its bricks-and-mortar holdings, RXR has been one of several real estate players to invest in proptech in recent years.
According to regulatory filings, RXR Digital has backed 10 proptech companies, including smart-lock maker Latch, which plans to go public via Tishman Speyer’s SPAC. It also invested in Metropolis, a parking startup; VTS, a lease management platform; Kitchen United, a ghost kitchen startup; and Eden, an office management firm which purchased Managed by Q from WeWork.
Not all investments have panned out, though. RXR invested in Lyric, a short-term rental startup backed by Airbnb, that folded over the summer when Covid decimated the travel industry. (Tishman Speyer, Fifth Wall Ventures and Barry Sternlicht were also investors.)