Like most industries, real estate has welcomed a flood of tech investors seeking change, profit, and “disruption.” And though Silicon Valley venture capitalists and tech investors came to real estate relatively late compared to other fields, real estate tech’s big 2017 shows it’s trying to make up for lost time.
Coworking colossus WeWork is now valued at $20 billion. Fifth Wall Ventures, a fund dedicated to real estate technology, raised $212 million. Redfin had a big IPO, Commonraised millions for coliving, and let’s not forget Airbnb’s continued expansion. Forbes estimates that investment in real estate startups globally has ballooned from $2.4 billion to $33.7 billion between 2008 and 2017.
In real estate, as in other industries being transformed by technology, you can measure the commercial and cultural shift through language. Read More